FRIDAY NOVEMBER 14
It’s Official: Europe’s Economy In Recession

With everyone throwing the R-word around for months, you almost forgot the recession actually hasn’t hit a lot of places yet. Today you can cross Europe (and Hong Kong) off that watch list. Interesting that the first recession in Europe since the introduction of the euro comes just as world leaders get ready to meet in Washington to prevent it. Right on time, as usual, guys. And you know who else was right on time? The 26 economists who said last July there was only a 35% chance of a recession in 2008. Clearly, we’ve been experiencing a real intellectual and tactical tour de force here. More on the raw data – plus, why we may not yet have reached our nadir.

November 2008

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