GET HIP: DISCOVER THE DANGERS OF A DOUBLE DIP

GET HIP, LEARN TO FEAR THE DOUBLE-DIP---BARACK OBAMA DOES!

WHY THE PRESDENT WARNS OF A DEEPER DROP, NOT A RECOVERY

By Danny Schechter

Author of "THE CRIME OF OUR TIME"

When I was a kid, a "double dip" was an ice cream cone with two scoops. Yummy,

Today, the same expression is being used to warn us that the recession we are still struggling with could, and is supposedly posed for recovery could fall even deeper into another dip. That d word seems to be a substitute for another--a depression.

What's going wrong? Isn't the stock market sailing high? Hasn't GM managed to cut its losses to only a billion? Isn't Goldman Sachs setting aside " a half a billion dollars to help small business and show how sorry it is for its role in the financial meltdown? (That pay out is over ten years--just 2.6% of its bonus pile, but who's counting. A half a billion still sounds like real money.

To hear Joe Bidden tell Jon Stewart how many jobs were created or saved, you would almost think it's all under control. That's what they want is to believe: we are on the way back, baby because the big dicks are swinging on Wall Street again.

And yet, when you read between the lines and figure out how to decode the lies and cheerleading, another picture emerges.

A Double Dip is not that remote.

There are Structural problems like a growing wall of debt that try as you might cannot all be blamed on The Democrats if you are of the other persuasion or on the Repugs if you stand with the Donkeys.

It's a system thing, a cancer that is eating away at the economy. The Financial Times reported Wednesday night, "US President Barrack Obama warned that the US economy could head into a "double-dip recession" unless urgent steps were taken to rein in mounting public debt.

Obama told Fox News--I guess they are talking again-- "That's when the economy begins to recover briefly from a recession only to be dragged back under. Obama told Fox News in an interview Wednesday that his administration is weighing tax breaks that could encourage businesses to begin hiring again.

But he added that it's important to recognize that if the nation keeps adding to deficit spending through tax cuts or more stimulus spending, at some point people could lose confidence in the U.S. economy and that could "lead to a double-dip recession."

What are the chances that can happen?

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