'US is already in recession'
The world's richest man, Warren Buffet says the US is already in recession, although some economists reject the idea for the moment.
The US is likely headed for a deep recession, the International Monetary Fund warned yesterday in a report in which it notes that the current banking crisis is the type that's most likely to lead to such a downturn, and suggesting Washington's proposed bailout of the banking system is the right course of action.