Well it looks like bogus Federal Reserve scams intended to prop up the DJIA don’t have the magic power that they used to. (As if proping up the DJIA was a valid goal inthe first place.)

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So….

It’s official. Morgan Stanley has issued a “full US recession” alert.

Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a “perfect storm” for consumers as the housing slump spreads.

In a report “Recession Coming” released today, the bank’s US team said the credit crunch had started to inflict serious damage on US companies. – Via Kos

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