What The Double Dip Recession Will Look Like In 2011

[marmar]

from 24/7WallStreet:



What The Double Dip Recession Will Look Like In 2011
Posted: September 13, 2011 at 4:25 am


A Gallup poll taken last month showed that confidence in the economy has fallen to its lowest level since March 2009, which was near the low point of The Great Recession.

A growing and vocal minority of economists believe that there will be a double-dip recession primarily because of the intransigence of high unemployment and the rapidly faltering housing market. The notion of a “jobless recovery” has been around since the recessions of the 1950s and 1960s. It is a concept built on a relatively simple idea: Employment lags during a recession but it is always part of a recovery cycle. Production rises as businesses see the end of a downturn and anticipate improving sales. They are reluctant to hire new workers until the recovery is confirmed, but once it has been, hiring picks up.

The 2008 – 2009 recession was – if it is indeed over – different from any other because of its depth and its causes. The first trigger was the drop in housing prices, which robbed many people of their primary access to capital. As that access disappeared, so did the availability of credit. Consumer buying power evaporated and businesses cut inventory and production. Joblessness rose. Finally, consumer confidence plunged.

The last downturn was so great that in some months more than 500,000 people lost jobs. The unemployment rolls are now more than 14 million and, perhaps more gravely, over 6 million people have been out of work for over 27 weeks – which means they may no longer be eligible to receive unemployment insurance benefits in early 2012. This segment of the population has already begun to add to the number of indigent Americans and will continue to do so unless they can find homes with friends and family. .............(more)

The complete piece is at: http://247wallst.com/2011/09/13/what-the-double-dip-recession-will-look-like-in-2011/#ixzz1XpYNTr9k

[Tesha]

1. Is there an unreccing script that some asshole runs?

Or do people just want bad news buried?

Or is there a bug in DU's reccomendation system
where all posts start at some small negative number
of recs?

Tesha

[RKP5637]

3. I think we just have an element of assholes on DU that unrec to unrec. n/t

[RKP5637]

4. K&R!!! n/t

[xchrom]

2. recommend