R = Recession = Reality

There is too much uncertainty right now as we grapple with what is reality and what is not in the financial markets. What would be wrong with right now, Secretary Paulson and Fed Chief Bernanke just coming out and facing reality and addressing that we are in a recession and then start giving us the antidotes for moving through and out of a recession. Seems like each time someone pushes them this way they come back with macro statistics that prove that we are not in a recession, thus not wanting to face the reality that it is not the macro that matters, it is the micro. One of my running buddies nailed this on one of our long Saturday runs last month. He was talking about the micro implications of the economic breakdown long before the politicians dubbed the micro as "Main Street". At the micro level, I believe we are in a recession. How do I know, well when eBay is slowing down and struggling with revenue, then that is all the indication that I need that the working-class American has begun to pinch the penny and stop spending. And when that dries up, then we know what happens to our GDP. Reality shouldn't be this hard to address. Anyone who can't address reality, whether it be a parent, a CEO, a worker, or our government, has a significant problem. Maybe on November 5th we will hear the R-word spoken about more clearly and plainly. Once we are honest with where we are then we can begin to take the steps to move to a better place...until then expect more irrational behavior and uncertainty in the markets. A good dose of reality may be just what the doctor needs to keep ordering.