Recession ... Or Worse?

It is scary out there in the world of economic indicators.

Inflation is at its highest rate in a quarter century. Home prices are getting low and lower. Factory orders are lousy. The U.S. dollar is plummeting.

It's no wonder consumer confidence is on the rocks. Never mind recession — some days it sounds like we should be bracing for calamity. And just when we need the Fed, it looks like its bag of tricks may be empty.

So, is it time for bargain hunting? Or time to bar the door?

This hour, On Point: with bad news piling up on the economy, we ask just how low this could go.Guests:

Robert Reich, secretary of labor under President Bill Clinton, now professor of public policy at the University of California at Berkeley.

Robert Samuelson, columnist for Newsweek and The Washington Post.

Howard Davidowitz, retail analyst and chairman of Davidowitz and Associates.