2008 is off to a very rocky start.  I don't think it will be enjoyable to see IRA or 401k statements this month.  Seems like everyone is talking about a recession. 

The employment report last week proved that the U.S. economy entered its first recession since 2001, according to Merrill Lynch & Co.'s David Rosenberg.

"Friday's employment report confirmed our suspicions that the economy was transitioning into an official recession towards the end of last year," New York-based Rosenberg, North American economist at the world's biggest brokerage, wrote in a note dated Monday.

His comment came after U.S. investor Jim Rogers said in an interview that the U.S. is heading for a recession that will be the worst "in a while."

"It's going to be one of the worst recessions we've had in a while because we had so many excesses going into it," Rogers, chair of New York-based Rogers Holdings, said in an interview from Singapore.