Recovery or Recession in 2012?

Here's a disturbing prediction from Reuters:

"The European debt crisis is raising the odds of a U.S. recession, with economic contraction more likely than not by early 2012, according to research from the San Francisco Federal Reserve Bank."

Link to article:  http://www.reuters.com/article/2011/11/14/us-usa-fed-recession-idUSTRE7AD1PR20111114

Link to SF Federal Reserve Bank study:  http://www.reuters.com/article/2011/12/19/us-usa-fed-europe-idUSTRE7BI1VG20111219

(ag) Jan. 2, 2012, in Economy