Nouriel Roubini warns threat of double-dip recession is rising

Telegraph ^ | August 24th | Angela Monaghan

[Halfmanhalfamazing]

The man credited as the prophet of the financial crisis has warned of the growing threat of a global, double-dip recession, where the economy briefly recovers before slipping back into contraction.

[American Constitutionalist]

Does that double dip come in strawberry or lemon flavor ? because those who are in charge now are a bunch of fruit cakes.

[scooby321]

I wonder if Zero or Joe will take responsibility of this one. Since the consumer spending is 70% of the economy and they ain't spending with this crowd in power.

[Proud_USA_Republican]

How does a double dip occur if we are still not even at the bottom of the first one?
We are talking about over +15% nationwide unemployment for years and hate to break it to Obamas economic handlers but the “Jobless Economic Recovery” they have been trumpeting about this week is an oxymoron.
You might as well be slamming a shoe on a podium while bantering about magical unicorns because a “Jobless Economic Recovery” doesn’t exist when 70% of your countries economy is based on consumer spending, not on manufacturing and exporting.

[allmost]

No spike to make it halfway to ‘W’.

[palmer]

You are right, they will blame it on “W”.

[Truthsearcher]

Jobless recovery is an oxymoron, like dry water.

The numbers only look ok because they use GDP to measure things, and the only reason GDP looks OK is because of the massive federal spending. It’s not a real recovery.

GDP numbers are easily manipulable in the short term. For example, if I take a piece of scrap metal, and sold it to you for $1 million, and 2 weeks later, you sell it to Y for $1 million, and 2 weeks later, Y sells it back to me for $1 million. That’s $3 million dollars of economic activity according to the GDP. When in fact nothing happened.

[MeneMeneTekelUpharsin]

The auto company losses were good for market gains and now this. Now the DOW will rise about 80+ and the Nasdaq approximately 30+. This bad news is really driving the markets up. When we actually have economic improvement, the markets will collapse.

[autumnraine]

That jobless recovery means all the wealthy investors in worldwide investments will recover. Those who rely on a paycheck are just screwed. But the overall numbers can appear to look good so they can continue to spout it and hope Americans are too stupid to realize that it isn’t in just their area that is hit hard, but nationwide. Because ‘the news’ says the economy is getting better!

[Hardastarboard]

How does a double dip occur if we are still not even at the bottom of the first one?

EXACTLY. Some economist this Roubini is.

[allmost]

This is unprecedented. The powers that be want to destroy this Dollar and replace it with a frigin ‘Uno’. I don't know what they're going to call it but the Dollar destruction is daily news.

[taildragger]

You might as well be slamming a shoe on a podium while bantering about magical unicorns because a “Jobless Economic Recovery” doesn’t exist when 70% of your countries economy is based on consumer spending, not on manufacturing and exporting.

Post of the day P_USA_R!

Yes we cannot compete with 24 countries with a "Flat Tax"

We cannot compete with Corp Tax Rates of 32.5% while the rest of the world is somewhere between 18 to 24% not to mention Ireland's 12.5%

We cannot manufacturer with an EPA (ans Sierra Club etc) that have outlawed so many painting and plating processes that almost nothing can be made here anymore.

If Obama layoff 1/2 of the EPA, Froze their Regs and cut the Corp Tax Rate to 15% I swear the Dow would go up 1000 points that day, but being the Socialist Tool that he is, he cannot fathom that solution...