First it was the economy was doing fine because consumer confidence was up and then a bunch of economist said that the recession would end in 2009, the last of the year.

And now we have this info from the AP:

The U.S. economy sank at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year. However, many analysts believe activity isn’t shrinking nearly as much now as the downturn flashes signs of letting up.

There is more to this story from the AP:

The economy’s dismal performance over the last two quarters underscored the toll the recession, which started in December 2007 and is now the longest since World War II, has had on the country. Businesses have ratcheted back spending and slashed 5.7 million jobs to survive the fallout. Financial firms have taken huge losses on soured mortgage investments. Banks and other companies have been forced out of business. Home foreclosures have soared.

Weakness in the first quarter mostly reflected massive cuts in spending by businesses on home building, equipment and software and many other things. U.S. exports plunged, so did spending on commercial construction and inventories. But some of those drops — while huge — were a bit less than first estimated, contributing to the tiny upgrade in overall first-quarter GDP.

And come next Monday GM will most likely go into bankruptcy, putting thousands more workers out of work.

Would you like to talk about foreclosures?

Once again according to the AP:

The mortgage crisis is spreading and hitting new heights: Borrowers with good credit now make up the largest share of foreclosures as job losses and pay cuts exact their toll.A record 12 percent of homeowners with a mortgage were behind on their payments in the first quarter, the Mortgage Bankers Association said Thursday. And the trend is predicted to continue until the end of next year, about six months after unemployment is expected to peak.

I keep asking, will someone please explain the prediction of the recession ending in late 2009?  To me none of this sounds like an end.  If you work, then your recession will last a lot longer than those speculators that make money screwing the working class.

As the recession, which began in 2007, continues the worker gets further and further into a hole.  There is NO help coming.  Maybe it is time for the worker to take his future into his own hands.  Just a thought.