Are we coming towards a recession? With weak retail figures in the US, warnings of property bubbles, big warnings on debt, and bearish markets, are we facing a global downturn as economic threats become too real to ignore?

It's something that needs watching. But I really wouldn't call the the markets bearish yet. I think if Oil prices don't stabalize, that might cause a recession. Everyone is affected by such high oil prices. Business are just pasing on their increased costs to consumers which in turn, curtails consumer spending and so on..which leads to a recession.

From what I've been reading, the US economy seems more vulnerable to recession than the UK.

On the one hand, we have US inflation pushing harder:
http://dollarwatch.co.uk/index.php/2...in_us_in_april

on the other, Greenspan is warning that the end of the housing boom could signal a drop in consumer spending:
http://www.msnbc.msn.com/id/12875263/from/RSS/

Not sure if I'd call it recession, as much as a closing of the economic cycle.

Perhaps it is just a part of an economic cycle. I still believe everything will go back as usual again.

I was really hoping for a recession to curb house prices - but now I'm jumping in to buy a house, I'm really hoping against a recession.