U.S. consumers are now getting the message. The housing slump, along with the sub-prime write-off mess, has nowhere near run its course. My charts on Young Research's Moving the Goods Index and the Dow Jones Transports vs. the Dow Jones Industrials indicate a recession-flashing breakdown.

Manufacturing employment holds the key. If shop floors are busy, recession can be fended off. As an indicator of a still-cooking environment, I'd like to see the indicator for manufacturing hours worked per week hold above 40.7 hours. Last month, it fell by two ticks, to 41.1 from 41.3 hours. A decline below 40.7 hours to, say, 40.1 hours will usher in a broad-based U.S. recession.

General Electric (NYSE: GE) made its first foray into offshore drilling with a $54 million investment in a drillship named the Peregrine I. The ship will be used to drill for oil off the coast of Brazil to a depth of up to 25,000 feet in up to 5,200 feet of water. The Peregrine is currently under contract with Brazil's state-owned oil company, Petrobras. Brazil's deepwater ocean became a focal point for exploration in November when Petrobras announced what is believed to be the second-largest oil and gas find in 20 years! The new offshore field, named the Tupi Field, will produce an estimated 500,000 barrels of oil a day at full capacity.

Did you know that sales of hummus in the U.S. have doubled over the last four years? Me neither, until PepsiCo (NYSE: PEP) bought a 50% stake in Sabra, the fastest-growing hummus seller in the U.S. PepsiCo will help Sabra expand the brand beyond its stronghold in the Northeast. Hummus will add a nice complement to PepsiCo's salty snack portfolio. Hummus and a bag of blue corn Tostitos make a tasty snack--and a much healthier alternative to the oil- and sodium-packed Lay's potato chips.