Are we there yet? Well, the National Association of Business Economists thinks so. They see the economy dropping significantly, by 2.6% this quarter and 1.3% in the first three months of 2009.
UPS appears to agree - the shippers aren't issuing a holiday season peak package forecast because "these are unusual times for the U.S. economy".
Ain't that the truth.
So I have to admit that maybe the idea of letting Detroit go bust isn't such a wise one because of everything else that's happening in the economy.