Letter: Evidence suggests recession to linger

Regarding the recent survey on your Web site: Federal Reserve Chairman Ben Bernanke said in a speech he believes the recession is "very likely over." Do you agree?

Yes. Things are bound to get better: 51 percent.

No. We haven't seen the economic bottom yet: 27 percent.

It may be over, but we won't see much improvement around here. 20 percent.

I'm not sure. One percent.

Total votes: 583

It's funny that as much as people hate the media, they always believe what they hear/read. How can things get better when:

The housing market faces the prospect of a new round of foreclosures as about 70 percent of the $189 billion in outstanding option ARMs will reset by 2011?

Two of the biggest credit card issuers are getting clobbered? Bank of America saw its defaults rise to 14.54 percent in August from 13.81 percent in July. Citigroup saw defaults rise to 12.14 percent in August from 10.03 percent in July. Following close behind was JPMorgan Chase & Co. at 8.76 percent, up from 7.92 percent.

Blockbuster to close up to 960 stores?

Hotel room rates slump in the first half of 2009?

Number of millionaire households shrinks?

Retail sales hint at jobless recovery?

Commercial real estate loans: "We still question if there is enough financing available to deal with the wave of commercial real estate loans that must be refinanced by 2012."

Ingrid Kollmann

Brownsville