Here comes the Double Dip......

[JustRalph]

http://www.thestreet.com/story/10835877/1/double-dip-recession-a-virtual-certainty.html?puc=_tscrss

Double-Dip Recession a 'Virtual Certainty'
http://www.thestreet.com/content/image/62632.include
By Jeff Cox, CNBC.com Staff Writer

The U.S. economy is almost certainly headed back into a double-dip recession, and economists aren't seeing it because they're using "the old rules of thumb" that don't apply this time, well-known economist David Rosenberg told CNBC.

Consumers' focus on shedding debt rather than spending will prevent the economy from growing and bring a halt to the recovery, said Rosenberg, a former Merrill Lynch economist who now works at Gluskin Sheff, an advisory firm based in Toronto.

"The risks of a double-dip recession -- if we ever got out of the first one -- are actually a lot higher than people are talking about right now," he said. "I think that it's almost a foregone conclusion, a virtual certainty."

Rosenberg has long been pessimistic on the economy, believing that persistently high unemployment, weak economic indicators and massive debt-cutting -- deleveraging -- by consumers and businesses will send the economy into a double dip.

more at the link

[boxcar]

http://www.thestreet.com/story/10835877/1/double-dip-recession-a-virtual-certainty.html?puc=_tscrss

Double-Dip Recession a 'Virtual Certainty'
http://www.thestreet.com/content/image/62632.include
By Jeff Cox, CNBC.com Staff Writer

The U.S. economy is almost certainly headed back into a double-dip recession, and economists aren't seeing it because they're using "the old rules of thumb" that don't apply this time, well-known economist David Rosenberg told CNBC.

Consumers' focus on shedding debt rather than spending will prevent the economy from growing and bring a halt to the recovery, said Rosenberg, a former Merrill Lynch economist who now works at Gluskin Sheff, an advisory firm based in Toronto.

"The risks of a double-dip recession -- if we ever got out of the first one -- are actually a lot higher than people are talking about right now," he said. "I think that it's almost a foregone conclusion, a virtual certainty."

Rosenberg has long been pessimistic on the economy, believing that persistently high unemployment, weak economic indicators and massive debt-cutting -- deleveraging -- by consumers and businesses will send the economy into a double dip.

more at the link

Two things: The Dems will blame Bush WHEN this happens. And secondly, BO will declare another "urgent crisis" and spend even more money for bailouts. Printing presses will work overtime.

Boxcar

[Valuist]

When will the government (particularly the current party "in charge") realize that meddling will only prolong the problems? We need the de-leverage our debt, not keep buying houses we as a society cannot afford. I guess its the MTV mentality; want everything now so all focus must be short term. Fix the symptom; not the problem.

[ElKabong]

Whatever happened to The Summer of Recovery? Plugs Biden promised it.

Recession= when your neighbor loses his job
Depression= when you lose your job
Recovery= when Obama loses his job in 2012

Seriously, not much of a chance to avoid a long painful run in this economy. Obama made a bad situation far worse. The congress in place has been the death to many a working family

[skate]

bailouts will work, but common sense tells us 'you gots to spend it correctely'. Easy to see, spending is not applied with the right measures and lots more presence of mind needed.:confused:

"Hindenburg Omen" is calling for a market Melt. Put out by Jim Miekko.

[riskman]

"With unemployment still dangerously high and with foreclosures and personal bankruptcies continuing to set all-time records, should we really be talking about a "recovery"? The truth is that the numbers don't lie, and statistic after statistic shows that the economic fundamentals continue to get progressively worse. The U.S. government can continue to try to pump up with economy with more debt, but the reality is that there is not going to be a legitimate "recovery" until consumer spending rebounds."

more here: http://theeconomiccollapseblog.com/archives/15-economic-statistics-that-just-keep-getting-worse

[JustRalph]

but the reality is that there is not going to be a legitimate "recovery" until consumer spending rebounds."[/url]

exactly right and this admin is scaring the hell out of everybody. Anybody with a brain knows that their taxes are going up next year and businesses are hording cash like a squirrel does nuts.

This admin is toast. Until they are gone and tax cuts are put in place.......the economy is going to get worse and worse. The only people with any extra money, apparently work for the government

[Tom]

Obama and the dems are road blocks to success. End of story.

[boxcar]

Obama and the dems are road blocks to success. End of story.

This indeed the mega bytes of irony: The Progressives are anything but, and in fact are anti-progress.

Boxcar

[JustRalph]

http://www.cnbc.com/id/38863025

Chances of Double Dip Now Over 40%: Roubini

much more at the link

[Steve 'StatMan']

Progressives - Progressively Worse

[Tom]

Joe Biden = Baghdad Bob! :lol:

[GaryG]

I was waiting to see the liberal views (spin) on this. Since there were none, please allow me: It is all Bush's fault. If not for the bold, courageous moves by President Obama things would be at least twice as bad. As Joe said..."It is worrr-kking!!

[BlueShoe]

Recession= when your neighbor loses his job
Depression= when you lose your job
Recovery= when Obama loses his job in 2012
:ThmbUp: :ThmbUp: :ThmbUp:
The problem is that by January 2013 so much damage will have been done that it may take years or even decades to restore prosperity. A lame duck congress, such as what we are likely to see between this November and January and then again in November 2012-January 2013 will add to the carnage heaped on the nation. Even worse, contemplate what a lame duck Obama will do before he leaves office.

[Let's Roll]

:ThmbUp: :ThmbUp: :ThmbUp:
The problem is that by January 2013 so much damage will have been done that it may take years or even decades to restore prosperity. A lame duck congress, such as what we are likely to see between this November and January and then again in November 2012-January 2013 will add to the carnage heaped on the nation. Even worse, contemplate what a lame duck Obama will do before he leaves office.
Credit to you for thinking so far into the future.I have those fears as well.
Obama and the Socialists are clearly the enemy of the American people, I hope we fight back hard enough to keep them out of power for many generations and that freedom loving citizens "never forget".