Word out of Frankfurt, via Goldman Sachs, is that a recession in the United States is all but a certainty at this point.
Naturally, the threat that the “world’s largest economy” (ours) could suddenly sputter into a backspin has investors and financial gurus racing to hedge their loses. This phenomenon of investors bracing for a recession, of course, is the chief reason for prolonging the recession.
The spearhead of current economic woes is the American housing crisis, which appears as though it will get worse before it gets better.
When asked what he thought of his parent’s difficulty in paying the mortgage, John Sanders, 18, refused to look away from his “Rock Band” video game as he said, “Huh? Listen, I just spent 150 dollars on a video game that simulates being in a band–if you’re having trouble paying for things, maybe you should get a job.”
Analysts say the recession could hit this year and may last two to three quarters. Video game experts maintain that “Guitar Hero” and “Rock Band” will still be trendy at least into the summer of 2009.
Related Posts:
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.