As if there wasn't already enough bad news on the economy, today brings a trifecta of negative economic indicators.
First, GM posted a $15 BILLION loss for the second quarter. (In related news, Ford reported a 15% drop in U.S. sales and Toyota's U.S. sales declined by 12%)
Second, the U.S. unemployment rate rose to 5.7% in July - a four-year high.
Third and finally, bringing it all together, is what most of us already knew: although, the media doesn't seem quite ready to officially acknowledge it, - the U.S. economy is in a recession.
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