You KNOW the economy is going to hell when you read a headline and lead paragraph like this

and on the wapo front page to boot...

Fed Chief Talks of 'Decisive' Action

Federal Reserve Chairman Ben S. Bernanke yesterday signaled that the central bank will cut interest rates aggressively to try to prevent a serious economic downturn, using unusually direct and forceful language.

when a fed chairman uses "unusually direct and forceful language," ya better take shelter cuz the shitstorm's a'comin'...

atrios' take...

Bernanke's ... basically saying that things suck but don't worry 'cause he's warming up the helicopter.

translation for all the above...

"The backdrop here is the Fed is worried that the economy could be sliding into a recession," said Bruce C. Kasman, chief economist at J.P. Morgan Chase.

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