It's official: U.S. is in recession

[Ferd]

Originally Posted by rgcraig

I think we need to learn to live within our means.

Perhaps, this will force the issue.

Even Target gets it - in one of the Christmas commercials it says, "extravagance is dated"

You are dead on. Recessions always come with lessons.

Because recessions generally are the result of excess.

In 2000 the recession was a result of over exuberant investment in a new technology. (google holands tulip recession very interesting reading guess we really didnt learn that lession)

We have suffered recessions because new technologies increased inventories. (the late 1800s saw this as mass transpertation with railroads changed the dynamics related to moving goods and actually the invention of Henry Fords assymbly line became at least a portion of the problem in the great depression)

this recession certainly has over spending at its roots.