US Economy from Bad to Worse

In January, in this blog I declared that I thought that the US were in recession or heading towards it and I based it on the data coming out during those days. Previously I was the one to oppose to the idea of a US recession basing my ideas on the usual data. Yesterday Bernanke has declared to a committee that macro-economic data from January tend to confirm the slowdown. I am glad to read that because this is a confirmation that my fears were right. As I used to mention in an Italian Forum, i didn't see at the time and I do not see now why the US Dollar should get stronger against the other currencies and why the price of oil should go down. My view stays the same and I actually think that troubles have not ceased and these will show their effects on the rest of the world. This short commentary is in reply to a friend's question about my current view on US Economy.

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