[youtube]http://www.youtube.com/watch?v=aMrvykMiHUU
It's official: the United States is in a recession, and has been for the whole of 2008, according to a report released yesterday by the National Bureau of Economic Research. The effects of that recession are being felt across the board as consumers cut back on discretionary spending, corporations are cutting ad budgets, and industrial production is being curtailed. One flashpoint for the crisis: NASCAR, where as many as 1,000 layoffs are expected before the end of the year, and teams have to scale back after years of exuberant spending.
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