I almost fell off my chair when I first read this ...
"WASHINGTON (Reuters) - The U.S. economy slipped into recession in December 2007, the nation's business cycle arbiter declared on Monday ..."
Full article here - http://biz.yahoo.com/rb/081201/business_us_usa_economy_recession.html
That Monday was December 1, 2008, or 12 months too late!
On 2 December 2007, the S&P closed 1505. Last night, S&P closed 816, or just a little over half of its value 12 months ago.
If you had waited until the US Government officially declares Recession, isn't this way, way, way too late?
If I recall correctly, Buffett called for a Recession last year, and a certain local fund manager lambasted Buffett for being a lousy economist earlier this year. *grin* I guess bloggers who called US recession last year should now feel vindicated that they were right!
For future reference.