BY MARTIN HUTCHINSON, Contributing Editor, Money Morning
Despite what U.S. Federal Reserve Chairman Ben S. Bernanke said in his speech at the International Monetary Conference yesterday (Tuesday), it looks very much like we're headed for a double-dip recession.
Indeed, the economic reports of the last week or so demonstrate that the U.S. job machine was never really jump-started after the Great Recession of 2008-09.
The upshot: The U.S. economic recovery is stalling, and we're almost certainly looking at a double-dip downturn.
Recessions are always painful - and double-dip recessions are even more so.
And this second 'dip' may be more of the same - a bloody economic downturn that leads into a feeble recovery with unemployment spiking to even higher levels than we're currently seeing."
Despite what U.S. Federal Reserve Chairman Ben S. Bernanke said in his speech at the International Monetary Conference yesterday (Tuesday), it looks very much like we're headed for a double-dip recession.
Indeed, the economic reports of the last week or so demonstrate that the U.S. job machine was never really jump-started after the Great Recession of 2008-09.
The upshot: The U.S. economic recovery is stalling, and we're almost certainly looking at a double-dip downturn.
Recessions are always painful - and double-dip recessions are even more so.
And this second 'dip' may be more of the same - a bloody economic downturn that leads into a feeble recovery with unemployment spiking to even higher levels than we're currently seeing."
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