We are most likely in a very mild recession right now. Unemployment spiked in December, and consumer confidence has fallen to 88.6, which is well below the long-term average of 98.6. The Fed now knows that it should have dropped rates further last year. We'll see just how far the Fed moves at its next meeting on Jan. 30. Our grading system of the economy and the housing market is a "bell curve" model, with statistics at an all-time high receiving an "A," statistics near the long-term average receiving a "C," and the worst times ever receiving an "F." In this grading system, it is OK to be a "C" student. Here is our current report card: Economic Growth: C The U.S. economy continues to grow an average pace. GDP growth, which was a higher-than-expected 4.9 percent annual growth rate in the t...
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