Fact: We're Not In A Recession

The definition of an economic recession is 2 consecutive quarters of economic contraction or negative GDP growth.

Though it was small, the US economy actually experienced GDP growth in the 1st quarter of 2008.

So despite what the media and financial talking heads would have you believe, we're not in a recession.

Now, to be fair, we could still be headed into a recession, but we won't know until October at the earliest -- when we can look back on the last 2 quarters to see how the economy fared.

Ben Stein, in this recent article at Yahoo Finance, does a good job of explaining this situation and also pointing out how the financial media seem to focus on the "doom & gloom" regardless of the facts.