Posted on 07/15/2010 8:38:51 AM PDT by Signalman
NEW YORK (CNNMoney.com) -- The risk of a double-dip recession is getting a lot of attention, but even that grim prediction could prove a little too optimistic.
Disappointing job reports, weakness in housing and consumer spending and problems in world financial markets have raised concerns about the U.S. economy stalling out later this year. Now some economists are starting to talk about an even worse fate: a prolonged period of very weak growth, a so-called "lost decade."
"The probability of a lost decade is significantly greater than a double dip," said Sung Won Sohn, economics professor at Cal State University Channel Islands.
"We don't have too many engines of growth functioning right now -- housing, consumer spending, exports are all sputtering. I have a hard time seeing where we can get 3% economic growth back."
(Excerpt) Read more at money.cnn.com ...
BACK FROM THE BRINK! Thank God!
Not lost, stolen.
As the idled oil rigs sail away to friendlier shores, it should be obvious that the economy is not coming back until the communists are purged from government.
A lost decade is a dream result for the zombie banks, who get to keep operating and paying bonuses despite their insolvency. The problem never goes away, though - Japan is entering Lost Decade #3.
It wont be a lost decade unless Obama is reelected.
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