Economist Says U.S. Headed for Recession

The numbers out of Wall Street will be turbulent for some time to come, according to Economics Professor David Doorn, at the Duluth campus of the U. of M. He tells KLKS News, investors are concerned about the congressionally approved bail-out package and if it would do any good. Professor Doorn says GDP figures for the rest of this year, and the first quarter of 2009 will probably be in negative territory. If they are, that would be the definition of recession. Doorn says recessions historically last less than nine months.