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Florida's consumer confidence is now the lowest on record


Which gives rise to some recession thoughts:
There have been five recessions in the last three decades.
They lasted on average 10 months.
That's short, compared to the growth cycles in between the recessions. Those lasted almost five years each on average in recent times.
The last recession did not begin because of September 11.
No matter what the airlines said, they were losing money long before the terrorists struck.
The recession that year actually began in March 2001 and ended in November 2001. An eight-month quickie.
This one seems to have begun sometime last year. It probably won't fit the standard definition of six months of economic decline. This one, it seems, is a recession created by consumers and marked by a dismal outlook. It may not actually drag growth down, but it's a drag all the same.


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Comments

what recession? People are at the casinos all hours of the day and night. The mall parking lots are full. People are complaining more than anything - and productivity is down because we are a lazy nation.


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About the author
You've got the job of managing your money. No one in school taught you how. But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money last, how to educate the kids, how to make a budget work. The conversations I have with my readers are fun. Money's important, but discussing it does not have to be boring.

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.

Brackey has worked at Business Week magazine and at USA TODAY, where she was a founder and part of the original staff of the Money section at the country's first national newspaper. After nearly 11 years there - spent covering the 1980s bull market, the insider trading scandals, the 1987 crash - Brackey left Washington, D.C., and came to The Miami Herald. She spent the next decade writing a column about personal finance that chronicled the stock market's Internet boom and bust, as well as the popular Money Makeover features.

Brackey also has done commentaries for Marketplace Money, which airs on National Public Radio and The Nightly Business Report which is broadcast on more than 250 PBS television stations nationwide. She also has been a radio guest on WLRN’s Miami Herald News.
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