Posted on 08/20/2011 7:19:58 PM PDT by SeekAndFind
The U.S. economy has officially been out of recession for two years, but fear of falling back into the abyss has dogged the recovery every step of the way.
Now, the prospect of recession no longer is a fringe view.
"Recession is not inevitable, but I think there's better than a 50-50 chance now," said Bill Gross, the respected investment chief at bond fund giant Pimco in Newport Beach.
Stock markets worldwide have been ringing warning bells since late July, as share prices have plunged in the steepest pullback since the 2008 financial-system crash. The Dow Jones index sank nearly 600 points combined on Thursday and Friday and slumped 4% for the week, its fourth straight weekly decline.
Millions of Americans can argue that stocks are just coming to understand the true level of misery in much of the economy even as the recovery has progressed.
Still, by the standard measure of growth — gross domestic product, or the total value of goods and services the economy produces — the U.S. has been rebounding since the third quarter of 2009, after the deep recession that began late in 2007.
Even as growth slowed in the first half of this year, analysts were quick to blame the deceleration on what they believed would be temporary factors: auto-plant shutdowns after Japan's devastating earthquake in March, for example, and the spike in oil prices amid widespread social unrest in the Middle East and North Africa.
The almost universal belief was that global growth would accelerate in the second half of the year. But that view has been fading fast this summer.
(Excerpt) Read more at latimes.com ...
What rebound? Have they looked at the unemployment numbers??
A 2 year rebound?
LA Times bringing the crazy with them.
Baloney!!!!
Unemployment levels in the United States have been horrific for the past two years.
There was no rebound, just the illusion of one by “stimulus” and “quantative easing.”
quantitative
This is nothing but an attempt by the LA Slimes to try to get people to believe that recession ended and only came back because the evil Republicans wouldn’t just cave in to the Rats and give them everything they wanted.
I am not an economists, but it certainly appears like a recession/depression to my friends. Try looking for a job these day around the country. Good luck.
>>The U.S. economy has officially been out of recession for two years<<
Only because it is based on “official” bullshit numbers.
The recession never ended. It actually got worse and has only been worsening. They honestly think they can tell a populace standing in a foot of water that there is no flooding. They think we are idiots.
They've been discussing the possibility of a double-dip recession since the debt ceiling fiasco came up in mid-July, when the stock market started to tank.
Who writes this crap?!
Well praise the lord and pass the gravy. The gaurdian of who can say what has declared that it is now ok to talk about a double dip recession.
Thats not the big news. The big news is that they keep saying the last two years have been good economically. That was the good times folks. That was as good as it gets with this crew. Those were the salad days. But now the sentinels at the L.A. Times says its socially acceptable to utter the double dip. Thanks guys. GREAT JOB!
Who writes this crap?!
Well praise the lord and pass the gravy. The gaurdian of who can say what has declared that it is now ok to talk about a double dip recession.
Thats not the big news. The big news is that they keep saying the last two years have been good economically. That was the good times folks. That was as good as it gets with this crew. Those were the salad days. But now the sentinels at the L.A. Times says its socially acceptable to utter the double dip. Thanks guys. GREAT JOB!
QE2 gave the temporary illusion of a very modest recovery, but it has now completely petered out.
I have no doubt they will soon try (or perhaps are currently trying) QE3. That will be the one that truly sends us into the abyss.
These guys make all kinds of complicated claims and it is as simple as this:
The “stimulus” ran out while not addressing any of the actual issues burdening the economy while piling on more regulation/taxes/energy costs.
Government has been spending 10% of GDP with borrowed/printed money to make things appear better in the near term. That isn’t a “recovery” it is smoke and mirrors pushing the pain down the road with interest. They’ve been spending our future and the future has arrived.
Of course they’ve seen the unemployment numbers and the trends but they are democrat party propagandists so they push the obama lies.
How can there be a double dip, when we’re still in the middle of the first one?
Two year rebound? Bwahahahahahahahahahahahahahaha!
PUT THE CRACK PIPE DOWN, LATimes! =.=
Let’s see. According to the article, the boogie men causing the recession are Europe, Bernanke, consumers and even Perry. Of course, what we have is a fiscal crisis of “Biblical Proportion”. The demon is in the White House, but the MSM fails to acknowledge the root of our economic problems.
Yes - the O'conomy was bouncing back like donkey crap off a mud floor.
Yep, in reality there was never any recovery.
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