Personal income holding up fine

Despite the incessant chatter about recession, the latest Personal Income and Outlays report, for the month of January, indicates that real incomes, which are one of the key components for determining whether we are in a recession or not, actually rose, albeit very modestly (+0.1%.) Real expenditures were flat relative to December, but that is certainly not the recessionary outcome that so many people are talking about as being "here."

Yes, the economy is quite sluggish right now, but we are still not as clearly in a recession as so many people insist.

-- Jack Krupansky