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Double Dip Recession?
We were just getting our minds around the first one. But sure enough, a research group has crunched the data and predicts that we could be in for another recession next year. The maddening logic: If the stimulus plan works, then we may experience a “too-rapid recovery” which will then lead to another slump in 2010. This scenario is known fondly as the Double Dip (recession followed by brief recovery followed by recession). Federal Reserve Bank of Minneapolis President Gary Stern has even made mention of a “triple dip” in an interview with the Wall Street Journal. Hopefully this is a worst-case scenario, but we’re fastening our seatbelts anyway.
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2 comments for “Double Dip Recession?”
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Given the grim nature of this post, the photo of the ice cream cone is a lovely touch. Does that mean that if we have a Double Dip recession, the federal government will give each U.S. resident one free double dip ice cream cone? And if there’s a Triple Dip recession…
Seems like it might be more of a “dead cat bounce” (which is a Wall Street trading term for a market than bumps along a bottom and flattens out) than a “double dip”. The bright side — there will be, and are, jobs for roadkill collectors — aka government workers, health professionals of all kinds, and career coaches.