STILL NOT A RECESSION

Oh the economy is slowing that is for sure. Recession is a high possibility. But the fact remains: We are not in a recession NOW. Despite what all three presidential contenders are going around bleating. Oh and by the way, I haven't seen so many stories on the economy in a long, long while. Certainly not when the Bush Boom took off. Bias in the media? Nah! Even this AP story is tinged with sorrow even though the first quarter BEAT expectations and STILL shows we are not in recession.

From the AP:

The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down.

The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.