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Old 08-16-2010, 08:43 AM   #1
OgrGlgHu

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Default CNBC: Expert Says Double-Dip Recession a 'Virtual Certainty'
In order for there to be a "double dip" we would have had to recover from the first one. When did that happen? I must have missed the "recovery".

Anyhoo, it doesn't matter. Obama is out to destroy the American way of life and must be stopped soon. I always get a kick out of people who think he's actually trying to improve the American economy. Folks, the man wants to kill it off---for good. It won't recover until he's "outta there"!

http://www.thestreet.com/story/10835...ml?puc=_tscrss

Double-Dip Recession a 'Virtual Certainty'

By CNBC 08/13/10 - 02:33 PM EDT

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.

Though many economists disagree with Rosenberg about the chance of another recession, his views are widely followed on Wall Street and have often been accurate.
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Old 08-16-2010, 10:02 AM   #2
Deribasov

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In order for there to be a "double dip" we would have had to recover from the first one. When did that happen? I must have missed the "recovery".

Anyhoo, it doesn't matter. Obama is out to destroy the American way of life and must be stopped soon. I always get a kick out of people who think he's actually trying to improve the American economy. Folks, the man wants to kill it off---for good. It won't recover until he's "outta there"!

http://www.thestreet.com/story/10835...ml?puc=_tscrss
Are you serious? Why would the POTUS want to destroy America? Honestly, Regis, I think you must be mentally ill.
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Old 08-16-2010, 11:12 AM   #3
radicalvolume

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The political reality is that the worse off Americans are in November, the better for Republicans. Looks back on their insistence on blocking or diluting many of the Obama administration's efforts to revive the economy, it's pretty clear that what's best for America and best for the Republican party are not the same thing.
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