The bigger picture is that the U.S. economy is more over-leveraged than it ever has been before, and we are caught in a debt spiral that is basically impossible to unwind.
So in the final analysis it really doesn't matter if we are "officially" in a recession by the end of 2010 or not. The truth is that the United States is headed for a devastating long-term economic collapse and there isn't much that anyone can do to change that reality at this point.
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