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After a two-year rebound, recession risks rise (fears of a double dip no longer a fringe view)
Los Angeles Times ^ | 08/20/2011 | Tom Petruno

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 ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: billgross; doubledip; gross; obama; obamadepression; obamanomics; pimco; recession; recovery

1 posted on 08/20/2011 7:20:02 PM PDT by SeekAndFind
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To: SeekAndFind

What rebound? Have they looked at the unemployment numbers??


2 posted on 08/20/2011 7:21:23 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: SeekAndFind

A 2 year rebound?

LA Times bringing the crazy with them.


3 posted on 08/20/2011 7:22:14 PM PDT by Tempest (Ruining the day of corporate butt kissers everywhere.)
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To: SeekAndFind
The U.S. economy has officially been out of recession for two years

Baloney!!!!

Unemployment levels in the United States have been horrific for the past two years.

4 posted on 08/20/2011 7:26:40 PM PDT by OldNavyVet (One trillion days, at 365 days per year, is 2,739,726,027 years ... almost 3 billion years)
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To: SeekAndFind

There was no rebound, just the illusion of one by “stimulus” and “quantative easing.”


5 posted on 08/20/2011 7:27:05 PM PDT by ViLaLuz (2 Chronicles 7:14)
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To: ViLaLuz

quantitative


6 posted on 08/20/2011 7:28:44 PM PDT by ViLaLuz (2 Chronicles 7:14)
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To: MNJohnnie

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.


7 posted on 08/20/2011 7:30:02 PM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: ViLaLuz

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.


8 posted on 08/20/2011 7:30:02 PM PDT by Citizen Tom Paine (An old sailor sends)
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To: SeekAndFind

>>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.


9 posted on 08/20/2011 7:30:31 PM PDT by RobRoy (The US today: Revelation 18:4)
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To: SeekAndFind
That article is about a month too late!

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.

10 posted on 08/20/2011 7:31:49 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: SeekAndFind

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!


11 posted on 08/20/2011 7:34:02 PM PDT by barstoolblues (Notes from the Hobbitt hole. By Hezbollah Hobbitt.)
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To: SeekAndFind

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!


12 posted on 08/20/2011 7:34:22 PM PDT by barstoolblues (Notes from the Hobbitt hole. By Hezbollah Hobbitt.)
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To: ViLaLuz
Agree 100%.

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.

13 posted on 08/20/2011 7:41:09 PM PDT by comebacknewt (Sheesh. Go away and stay away Newt.)
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To: SeekAndFind

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.


14 posted on 08/20/2011 7:53:08 PM PDT by DB
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To: MNJohnnie

Of course they’ve seen the unemployment numbers and the trends but they are democrat party propagandists so they push the obama lies.


15 posted on 08/20/2011 8:07:32 PM PDT by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: SeekAndFind

How can there be a double dip, when we’re still in the middle of the first one?


16 posted on 08/20/2011 8:08:47 PM PDT by dfwgator
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To: SeekAndFind

Two year rebound? Bwahahahahahahahahahahahahahaha!
PUT THE CRACK PIPE DOWN, LATimes! =.=


17 posted on 08/20/2011 8:14:09 PM PDT by cranked
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To: SeekAndFind

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.


18 posted on 08/20/2011 8:32:05 PM PDT by mlocher (Is it time to cash in before I am taxed out?)
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To: SeekAndFind
After a two-year rebound, recession risks rise

Yes - the O'conomy was bouncing back like donkey crap off a mud floor.


19 posted on 08/20/2011 8:36:38 PM PDT by Iron Munro (Muslims who advocate, support, or carry out Jihad give the other 1% a bad name)
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To: ViLaLuz

Yep, in reality there was never any recovery.


20 posted on 08/20/2011 8:39:20 PM PDT by jospehm20
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To: Citizen Tom Paine
I am not an economists, but it certainly appears like a recession/depression to my friends.

Given that there is a well understood definition of a recession, I will agree that we are not in one. Depressions are not so well defined, but had there not been so much monetary stimulus, I believe that most economists would claim we are in a depression. It is quite possible that the monetary stimulus merely delayed the inevitable and the signs of depression are once again rearing their ugly head: high unemployment, lack of capital being invested, wildly fluctuating currency swings and falling prices. Nobody can seriously argue that the first 3 in the list are here. It now appears that deflation might be on the way.

By the way, prolonged depressions, of which there have been few, have had small streaks of modest prosperity.

21 posted on 08/20/2011 8:42:02 PM PDT by mlocher (Is it time to cash in before I am taxed out?)
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To: SeekAndFind

We never left the recession, just marched in place for two years and then the stimulus money ran out and we’re headed for a real depression. Obviously, the government couldn’t cook the numbers enough anymore (who are you going to believe, our numbers or your lying eyes?).


22 posted on 08/20/2011 8:42:31 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: SeekAndFind
Rebound my ass ! ! !

This depression belongs to the marxist mulatto @ 16ØØ

23 posted on 08/20/2011 8:43:56 PM PDT by tomkat (1860)
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To: SeekAndFind

I love how the article quotes “some analysts” as claiming that the slowdown is due to a spike in international oil prices . . . yet when there are high oil prices in Texas, that fact is taken as explaining the growth of the economy in Texas.

Seems as if “high oil prices” can be used to explain any particular set of economic facts one wishes: a slowdown or a speedup.


24 posted on 08/20/2011 9:50:03 PM PDT by GoodDay (Palin for POTUS 2012)
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To: Citizen Tom Paine

25 posted on 08/20/2011 9:57:33 PM PDT by blam
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To: SeekAndFind
"Now, the prospect of recession no longer is a fringe view. "

The Los Angeles Times is a leftist fringe newspaper. Don't believe anything they write...there's always an agenda.

26 posted on 08/20/2011 10:00:35 PM PDT by blam
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To: SeekAndFind

Double dip recession, who in the hell is kidding who?

We are in the same recession we have been in, there has been no recovery. The up and down of the stock market has no relation to the out of work person on the street.

The stock market today is driven by goods made in China and elsewhere. The sales of and profits from those products do nothing to help manufacturing workers here in the US of A.


27 posted on 08/20/2011 10:12:04 PM PDT by Sea Parrot (Democrats creation of the entitlement class will prove out to be their very own Frankenstein monster)
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To: SeekAndFind

Rebound?

Was there a rebound???

You could knock me over with a feather.


28 posted on 08/20/2011 11:21:38 PM PDT by Jack Hammer
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To: SeekAndFind
We never recovered from the "first" recession.

If this government would publish the truth about inflation, unemployment, etc., instead of fudging the numbers people would better understand how much trouble we are really in.

29 posted on 08/21/2011 3:02:00 AM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: All; SeekAndFind

Didn’t our imperious leader, the great Obama, say there would be no double-dip just as he headed off for Martha’s Vineyard and a round of golf?


30 posted on 08/21/2011 5:11:44 AM PDT by newzjunkey
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31 posted on 08/22/2011 8:27:20 PM PDT by Fixit
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