A Recession on the Horizon?

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In the past few days, the word "recession" has worked its way out of the business sections onto the front pages of newspapers and the covers of magazines. "Everyone knows…another recession is inevitable sooner or later. Some indicators now suggest that it might be sooner." The New York Times, the Wall Street Journal and the Financial Times are headlining stories about a coming recession. Back in August, the Economist asked, does America need one? The sub-prime mortgage crisis and the end of easy credit are putting a damper on consumer spending, which has been driving the economy. Does that mean recession's inevitable? Could it be stopped or at least postponed? Would there be benefits to getting it over with sooner rather than later?

Credits

Guests:
Robert Samuelson - Newsweek and Washington Post, Tom Donlan - Barron's - @barronsonline, David Shulman - Senior Economist, UCLA Anderson Forecast, Robert Manning - Rochester Institute of Technology, Paul Farrell - Columnist, Marketwatch.com

Host:
Warren Olney

Producers:
Katie Cooper, Karen Radziner, Frances Anderton