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Why US Economy May Be Headed for Another Recession

Discussion in 'News & Current Events' started by Revmitchell, Nov 10, 2012.

  1. Revmitchell

    Revmitchell Well-Known Member
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    ..."The other overriding problem is we never really gained true escape velocity this cycle," David Rosenberg, economist and strategist at Gluskin Sheff in Toronto, told CNBC. (Read More: CEOs to Washington: Get a 'Fiscal Cliff' Deal Done)

    That "escape velocity" refers to the strength an economy shows in which it catapults itself out of a tight range of growth and can withstand shocks such as those posed in the U.S.

    As Rosenberg pointed out, the economy in the late 1980s was able to tolerate the Black Monday stock market crash, while the late 1990s strength was enough to fend off the Asian crisis.

    With current U.S. gross domestic product growth at just 2 percent, that's not enough to battle through problems as steep as the fiscal cliff of tax increases and spending cuts, as well as storm damage and weakness in global markets.

    "There's no question that if we get the fiscal cliff that we're going to get recession next year," Rosenberg said. "The only question is how deep."

    http://www.cnbc.com/id/49745604
     
  2. Revmitchell

    Revmitchell Well-Known Member
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    Two days after the election, CNBC published a dour report on the economy. In what should be a shock to no one, CNBC is predicting that the U.S. economy is likely headed for another recession.

    CNBC helpfully informs us, now that the election is over, that the light in our economic tunnel could be a "freight train." It sure would have been nice to know that before the election, wouldn't it?

    http://www.breitbart.com/Big-Journa...-Headed-to-Another-Recession-NOW-They-Tell-Us
     
  3. Revmitchell

    Revmitchell Well-Known Member
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    Yea...no one is in the tank for Obama. :rolleyes:
     
  4. padredurand

    padredurand Well-Known Member
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    Don't you have to get out of a recession before you go into another one? Otherwise it is just a continuation.....
     
  5. Salty

    Salty 20,000 Posts Club
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    Padre, dont forge - you are not thinking like a liberal.....
     
  6. billwald

    billwald New Member

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    I think the current US standard of living as as good as it is going to get and I suspect a $5/hour cut in median buying power wage.
     
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