Official Recession ; Are we there yet ?

Every Day we keep hearing expert comments on whether we are officially in Recession or Did we just escape the whole recession by a whisker ?

According to commentators, We are officially in Recession if we have negative GDP growth for two successive quarters consecutively.

However, as a consumer we find the whole debate about whether or not we are in recession depressing. If the price of everyday essential items had gone up more than 50% then we could assume that recession has officially hit us irrespective of whether it met the expert's criterion.

We are finding that the Federal Reserve is printing & pumping money into the financial world even faster than a publisher of a best selling author. The very architects of the financial crises are again asked to handle the new money reminding me of the quote made by president Bush regarding his Democratic congressional colleagues " A teenager with a Brand New Credit card".

Many of us could personally be inexperienced while judging the terms related to financial matters however we feel it when recession hits since it directly affect our wallet and decreases our ability to enjoy small things in life we cherish the most.

Hopefully, it's time that both Washington (Federal Reserve) and New York (Wall Street) get off their ivory towers and set the records straight by fixing the economy thus ending this recession debate which is depressing most of the common consumers.