You can’t deny it any longer, ladies and gentlemen, we are in a recession. The Labor Department today reported that wholesale prices rose 1 percent last month, more than double the 0.4 percent increase that most economists had been expecting (and think, it was up 7.5 percent over the past 12 months, the most in 26 years), along with news that home foreclosure rose a staggering 57 percent in January compared to a year ago.
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