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10 signs the double-dip recession has begun (we never left the last one)
msnbc ^ | 8/1/2011 | Douglas A. McIntyre

Posted on 08/02/2011 3:55:19 AM PDT by tobyhill

Friday's news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse.

The U.S. has entered a second recession. It may not be as bad as the first. Economists say that the Great Recession began in December 2007 and lasted until July 2009. That may be the way that the economy was seen through the eyes of experts, but many Americans do not believe that the 2008-2009 downturn ever ended. A Gallup poll released in April found that 29 percent of those queried thought the economy was in a “depression” and 26 percent said that the original recession had persisted into 2011.

It is any wonder that many Americans believe that the economic downturn is still in progress? Home prices have fallen to 2002 levels. Values have dropped nearly 50 percent in parts of Florida, California, Nevada and Arizona. Property values are also down that much in parts of troubled big cities like Detroit. Estimates are that as many as 11 million homes have underwater mortgages. Banks have inventories of as many as 2 million foreclosed homes which have not even been released to the market. Home prices could fall another 10 percent if current trends persist.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 08/02/2011 3:55:22 AM PDT by tobyhill
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To: tobyhill

I drove from Tampa Florida to the Mountains in North Carolina last Monday, I never seen that few of Semi’s on the Interstate and Truck Stops in my life.


2 posted on 08/02/2011 3:59:12 AM PDT by scooby321
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To: tobyhill

10 signs the double-dip recession has begun (extract):
1. Inflation
2. Investments have begun to yield less
3. The auto industry
4. Oil prices
5. The federal budget
6. China economy slows
7. Unemployment
8. Debt ceiling
9. Access To credit
10. Housing


3 posted on 08/02/2011 4:05:34 AM PDT by Repeal The 17th (Proud to be a (small) monthly donor.)
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To: Repeal The 17th

#0 - $8 Trillion in government debt since 2006 which is counted as GDP means the first recession never ended. Another reason why they don’t want to stop spending. A balanced budget would reveal the real GDP which is negative.


4 posted on 08/02/2011 4:30:31 AM PDT by Justa
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To: tobyhill

Double dip recession: IMHO, the first recession never ended.


5 posted on 08/02/2011 4:37:10 AM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
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To: tobyhill

The Great Recession -we're still in it.

6 posted on 08/02/2011 4:40:26 AM PDT by Justa
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To: tobyhill

Never came out of the first initial recession.....someone memo the idiots at MSNBC. =.=


7 posted on 08/02/2011 4:49:35 AM PDT by cranked
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To: tobyhill

We should begin to play offense now.

The House should propose stimulative measures to revive the economy.

Suggestions:

First begin to remove regulatory obstacles to drilling for oil-in the Gulf and our coasts, plus Alaska.

Lower cap gains to 5% to aid commercial real estate.

Reduce corporate rate on repatriated foreign profits for domestic firms to 15%.

All these measures are free lunches-meaning that they would increase economic activity while also increasing revenues to the treasury. Whether we can get them through the Senate or not is irrelevant, let’s let the American people see that we have solutions.


8 posted on 08/02/2011 5:06:54 AM PDT by wayoverontheright
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To: tobyhill

Obama’s goal is to destroy America and EVERY move he makes is toward that end. Watch what he does, not what he says.
Every program kills growth and individual initiative, while increasing dependence on government and consolidating power and control.


9 posted on 08/02/2011 5:20:54 AM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: scooby321
I drove from Tampa Florida to the Mountains in North Carolina last Monday, I never seen that few of Semi’s on the Interstate and Truck Stops in my life.

You forgot apostrophes for "Mountains" and "Stops."

It's supposed to be:

Mountain's

Stop's.

10 posted on 08/02/2011 5:40:25 AM PDT by IDontLikeToPayTaxes
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