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Krugman, Mish, Roubini, and many other buffs on the economy are saying a double dip recession is possible. Schiff is saying a depression may hit us. Krugman even said unemployment wouldn't peak until well into 2011 and Mish is agreeing with him. Roubini is also worried about possible stagflation and stagdeflation. The stimulus is running out of steam. Another wave of foreclosures is coming. Some large corporations will be bankrupt soon adding to the unemployed, underemployed, and people that stopped looking for work. A jobless recovery could easily slip back into a recession. Are any of you worried that they could be right? I've been expecting a double dip with stagflation in the end. What do you think will happen to our economy?
All the stimulus did was give false hope and prolong the pain for many. Sad but I believe things will only get worse. Washington needs to stop fussing with healthcare, etc. until they get the economy straightened out. I have seen not one move to really fix the problems that caused the failure from this government. All I have seen is a bunch of people throwing money at a problem w/o really addressing it.
as the big corporations cut jobs to boost their profits, they lay off workers. nothing says economic recovery like more worker layoffs!
City and state governments are shedding jobs too. They just don't have the revenue to keep everyone onboard. The next two years could be pretty rough for most of us.
The economists who "never saw it coming" are now proclaiming it's over.
The ones (don't know that they are classified economists) that saw it coming were dissed and continue to be dissed for not joining the others.
Hmmmm..shouldn't be too hard to decide who to follow.
The vocal public guys are shouting "it's over" it little too loud and it seems they are all hoping for a V shaped recovery. This ain't no ordinary recession.
They are either clueless or trying to keep people calm when they say we have hit bottom. We haven't even seen the commercial foreclosures yet. Wait until we get a load of that. And unless Congress ups the debt ceiling to like 20 trillion there won't be enough money to bail that stuff out.
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