Still Front End of Recession

Larry Kudlow, RCP

excerpts:

• new orders and order backlogs either flat-lined or declined and remain below 50 
• falling weekly leading index that signals recession is inevitable
• a huge confidence drop of 26 percent, from 88.3 last January to 65.6 through August
• only 29 percent rate their finances as good or excellent
• permanently higher tax rates on income to pay for temporarily lower tax rates on payrolls is not stimulus by anybody's definition

If it looks like a duck, walks like a duck, and quacks like a duck, it must be a duck.  Uh, recession.