U.S. Economy Shrank 6.1 Percent in Q1

If one wants to spin this positively, it's not as bad as in Q4 2008. In Q4 of last year the economy slid the most in a quarter-century, shrinking 6.3 percent (annualized).

Consumer spending was a positive note, with a 2.2 percent growth rate, the strongest in two years. But nearly every other sector of the economy contracted.

Despite this, however, some analysts affirmed predictions that the economy would shrink much less in Q2 2009, at perhaps 1 - 2 1/2 as the economic stimulus package takes hold.

However, that was before the swine flu outbreak, right? It is evident in Mexico that the swine flu is taking a toll. Reports on Democracy Now! (audio) this morning indicate that Mexico is losing as much as $100 million a day because of the flu.

Many businesses are closed, and restaurants have been told to close as well, except for take-out. Tourism is taking a big hit.

With the EU's warning on travel to the U.S., how long before we see a similar effect in that country as well?

This is perhaps the most "perfect storm" of crises the world has ever seen, encompassing global warming, recessions, flu outbreaks. What is next?