Friday, July 09, 2010
Quick Thoughts on Double Dip
I'll be posting my 2nd quarter commentary shortly, but wanted to say something about all the Double Dip recession talk.
Many economists are forecasting another recession in the very near future, they are nuts. This whole concept of a double dip recession right now is almost a slap in the face. There can be no Double Dip as we never left the first Dip - we are still in recession.
Unemployment has not recovered and we are not adding enough jobs just to cover new entrants, nearly one in five Americans who can work - are not (or are not doing it full time) - that is not a recovery.
So, my quick thoughts are: We are not going to Double Dip because we never left the first recession - the first recession will continue to drag on (and, oh yes, its a depression, not a recession).
Scott Dauenhauer CFP, MSFP, AIF