by Chris | “Recession is when your neighbor losses his job. Depression is when you lose yours.” They're not my words, they're Ronald Reagan's.
The odd thing about a recession is that you don’t know that you're in one until you receive data (months later) that confirms your suspicion. I have no idea as to whether we will actually enter a recession, if it will be a touch-n-go recession, or if we will avoid one altogether. What I do know is that while I see pockets of opportunity, clearly our 2008 expectations need to be muted.