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NY Times Admits It’s a “Double Dip Recession”

Posted By admin On August 5, 2011 @ 3:23 am In Money Watch,Tile | Comments Disabled

Time to Say It: Double Dip Recession May Be Happening

FLOYD NORRIS
NY Times [1]
Aug 5, 2011

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 the government to fight back by stimulating the economy. It did, and the recession ended.

But Great Recession II, if that is what we are entering, has provoked a completely different response. Now the politicians are squabbling over how much to cut spending. After months of wrangling, they passed a bill aimed at forcing more reductions in spending over the next decade.

If this is the beginning of a new double dip, it will have two significant things in common with the dual recessions of 1980 and 1981-82.

Full article here [1]

NY Times Admits Its a Double Dip Recession 150709banner2 [2]


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URLs in this post:

[1] NY Times: http://www.nytimes.com/2011/08/05/business/economy/double-dip-recession-may-be-returning.html?_r=1

[2] Image: http://www.prisonplanet.tv/

[3] US credit shrinks at Great Depression rate prompting fears of double-dip recession: http://www.prisonplanet.com/us-credit-shrinks-at-great-depression-rate-prompting-fears-of-double-dip-recession.html

[4] Top Economist Warns Of ‘Double Dip’ Recession: http://www.prisonplanet.com/top-economist-warns-of-double-dip-recession.html

[5] CBO: Feds flirting with double-dip recession: http://www.prisonplanet.com/cbo-feds-flirting-with-double-dip-recession.html

[6] U.S. Chamber warns of ‘double-dip’ recession because of Dem policies: http://www.prisonplanet.com/u-s-chamber-warns-of-double-dip-recession-because-of-dem-policies.html

[7] UK economy in double-dip recession: http://www.prisonplanet.com/uk-economy-in-double-dip-recession.html

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