12/01/2008-- The U.S. entered a recession in December 2007, according to the National Bureau of Economic Research.
"Breaking News Alert
The New York Times
Monday, December 1, 2008 -- 4:20 PM ET
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Dow Plunges 680 Points as Recession Is Declared
The stock markets took a fall on Monday, diving along with
investors' confidence. Confirmation that the nation is in a
recession and reports of only a modest gain in holiday
shopping sales have prompted many investors to resume selling
after five days of higher closings."
Okay, according to the news reports, it was decided today, 12/1/2008, that the United States has been in a recession since December of 2007! And now the stock market is reacting to that news...the news that is not news at all. How many Americans are suddenly shocked to know that we are, and have been, in a recession? I doubt there are many. So people, stop reacting like you have been and be proactive. Stop being scared every time the news reports on the economy and keep your money where it is, shop for what you need, do your job and do it well, and bide your time. This isn't the first recession, and it won't be the last! However, how we react to the recession will help determine how long it will last.
