Citigroup to Cut 50,000 Jobs and the Exceedingly Useful G-20 (not)

I redact any comments that state that our economy is fine. With Citigroup cutting so many jobs, we must be heading into the next Great Depression! I'm definitely NOT serious. Ha! I crack myself up sometimes.

In all candor, this is yet another confirmation that we are, in fact, in an economic recession. No reason to bury your head in periodicals and glue your eyes to every nerdy economist that talks nervously on Bloomberg, because I will declare (actually declaring) that we are, unquestionably, in a recession. While I'm claiming this is a lone indicator of a recession, but clearly such a massive layoff shows more proof that we are in a recession.

Aside from that, I was also glad to see that the 20 heads of state were able to see what I'm seeing, and unanimously agree that the global economy is underperforming. However, I would have liked to see more promises of legitimate actions in order to improve the situation. After reading the statement, it sounded as if the leaders all sat around and said, "Well clearly the world isn't doing well economically, let's pinky swear to make it better." The majority of the statement basically said that measures must be taken, but nothing specific enough to really convince me that they actually accomplished something substantial. 

We can't really expect that from world leaders, can we?