The odds are now better than even that the U.S. economy is sliding or has already slid into a recession. The housing market downturn and sub prime mortgage crisis are the catalysts for a major economic downswing that looks to last well into 2009. The latest retail reports indicate a decline in sales, the unemployment rate is back over 5 percent (a two-year high), oil prices have breached the $100 high-water mark and food prices are rising.
