Thats it boys and girls, we are in a recession. Offically we cannot call it that until we have two continous quarters of negative growth, but we are there. The fact that the FED made such a drastic cut (their biggest cut in 24 years) and that also at an emergency meeting ahead of their regular meeting scheduled for next week is telling how shit scared they must be right now. Everyone is betting on a further 50 basis point cut next week again. A 1.25 percent cut within 10 days is almost unprecedented. Batten down the hatches it is going to be a rough ride!