Send a Tweet
Most Popular Choices
Share on Facebook 4 Share on Twitter Printer Friendly Page More Sharing
Exclusive to OpEdNews:
OpEdNews Op Eds    H2'ed 3/4/10

Double-Dip Recession Directly Ahead

By       (Page 2 of 7 pages) Become a premium member to see this article and all articles as one long page.     (# of views)   3 comments
Author 8235
Follow Me on Twitter     Message Richard Clark
Become a Fan
  (109 fans)

THIRD, consumers -- whose spending represents fully 70% of the economy -- snap their pocketbooks shut.

FOURTH, corporate earnings and stock prices crater. As the economy hits the skids, unemployment soars.

Clearly, these events would be the coup de grâce to an economic recovery as fragile as this one is. And they would almost surely transform a Great Recession into a Great DOUBLE-DIP Recession, if not worse, plunging us into the second bear market in three years, lighting the fuse on a second explosion in unemployment, and triggering a second surge in personal and corporate bankruptcies.

Indeed, this disturbing scenario is already beginning to unfold before our very eyes -- not just in ONE major Western country, but in TEN of them!

We've known for some time that Italy and Ireland are at risk for default -- and just this week, we saw how investors' fears have caused them to begin dumping British pounds and gilts (bonds) like there's no tomorrow.

Plus, the soaring cost of Credit Default Swaps -- "insurance policies" that protect investors against default -- on the debt of Greece, Portugal, Romania, Lithuania, Latvia, Iceland and the Ukraine is a clear sign that investors believe they are also at elevated risk of default.

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7

 

Must Read 2   Well Said 2   News 1  
Rate It | View Ratings

Richard Clark Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?