» Posted by Martin Weil on December 17, 2007

Are we? Or aren't we? That is the question the Times posed to six eminent experts in Sunday's paper. The six come to nearly a divided opinion as to whather the US is already in recession. Those who say not however believe the risk is high for one to commence in 2008.

"Just for fun," the blog Calculated Risk digs up a few historical quotes from former Fed Chairman Alan Greenspan, and notes that the last US recession began officially in July 1990.

In the very near term there's little evidence that I can see to suggest the economy is tilting over [into recession]. Greenspan, July 1990

...those who argue that we are already in a recession I think are reasonably certain to be wrong. Greenspan, August 1990

... the economy has not yet slipped into recession. Greenspan, October 1990

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