EASTER SUNDAY: Resurrection from the subprime crisis?

Obviously, a long way off.

Economic indicators point to a slowdown for the fifth consecutive month: manufacturing & services slowing, companies cutting jobs accompanied by first time claims for jobless benefits increasing, continuous deterioration of the housing market, stock prices down, etc.

Technically, an economy is in recession if indicators drop for 2 consecutive quarters.

Whether the US is in actual recession or not, consumers feel it is. Consumers, even those with comfortable discretionary disposable incomes, are behaving as if recession has already occured.

The more relevant question is: Is the present economic situation leading to an economic depression, and eventual economic collapse?

Images from Microsoft Clipart