Newswire:

Even The Strangest Economic Indicators Point To Recession

Unemployment numbers… payrolls… stock prices… all these typical indicators are signaling bad news for the U.S. economy.

Here are some other, quirkier signs that the economy is sicker than a leper in a plague village: [AP]

Necessities eat up more income: “By the end of 2007, 36 percent of consumers’ disposable income went to food, energy and medical care, a bigger chunk of income than at any time since records were first kept in 1960, according to Merrill Lynch.”

People treat themselves less often: “The National Restaurant Association says 54 percent of restaurants reported declining traffic in January, and the government says eating at home increased last year for the first time since 2001.”

Kids are moving back home: “Financial planners say that more than ever, parents are calling for advice on how to deal with grown children who have moved back in with Mom and Dad after losing a job or just to save money.”

Less trash: “Less trash is being set on the curbs of Mesa, Ariz., where surging home foreclosures are leaving more houses empty… William Black, the city’s solid-waste management director, says people aren’t throwing out as many appliances and bulk items, like furniture. They’re sticking with what they have.”

According to the Chicago Federal Reserve Bank’s National Activity Index, which is a “weighted average of 85 national indicators of economic activity“— both weird and mundane — a recession “has probably begun in the US.” [Forbes]

John McCain’s brilliant plan to save the economy? Double Bush’s tax cuts, leave federal programs starved for funds, and shift the tax burden onto the backs of working class families. Needless to say, we’re skeptical… [MicCheck]

We feel a tingle in our economic nose.

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