Are We Already in a Recession?

This article makes the case that we are already in a recession as of December of last year.

At the beginning of each year I choose a theme for the forecast issue. This
year, it is "Recession and Recovery." I think we've entered a recession. As I've
been writing for over a year, I think this will be a mild recession, but the
recovery period will be prolonged and slow. My best guess now is that the
recovery will begin in the third quarter of this year. The National Bureau of
Economic Research is the final arbiter of when recessions begin and end.
However, it will be at least a year and more likely 18 months before they give
us a decision. By that time, we will be well on the road to recovery. So, let me
make my case that we are in recession.