Double-Dip Recession May Be Happening
Posted in Main Blog (All Posts) on August 5th, 2011 4:31 am by HL
Double-Dip Recession May Be Happening
Floyd Norris, New York Times
Double dip may be back. Frank Masiello of Barclays Capital reacted to Thursday's market plunge. It has been three decades since the United States suffered a recession that followed on the heels of the previous one. But it could be happening again. The unrelenting negative economic news of the past two weeks has painted a picture of a United States economy that fell further and recovered less than we had thought. When what may eventually be known as Great Recession I hit the country, there was general political agreement that it was incumbent on…
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Frank Beckmann, Detroit News
The supposed crisis was averted this week when Congress approved and President Obama signed a bill that increases the U.S. debt limit. Now the question is: What next? Americans want to believe Washington is serious about reducing the country's current deficit and long term debt but there are enough signs from economic experts that we shouldn't get our hopes up, and that the next crisis might be just around the corner. Rather than reacting with a celebration, Wall Street shares tumbled after Congress and the president came to their agreement. And those fears about a U.S. credit…
