NBER: U.S. in Recession Since Dec. 2007; Fed Reserve Could Buy T-Bills; JP Morgan Sees 0% Interest Rates; Pilgrim’s Pride Files for Bankruptcy Protection; Consumer Credit Crunch in the Making; Crude Slides on Recession Outlook; J&J to Buy Mentor

Today’s Australian has a headline that reads, “Credit card debt slows to 13-year low.” That would lead you to believe that something good has happened in the economy. But has it?