Double dip recession is here - 10 signs
We told you it was coming. This is the next step to a depression. In fact
the latest Gallup Poll said 29% thought this is a depression while 26%
called it a recession.
Friday's news on GDP shows the double dip has arrived — an expansion of only 1.3
percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by
any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will
make it worse.
THREE MAJOR SIGNS DOUBLE DIP ARE:
1. Inflation - we told you this was gonna happen years ago. For instance
Milk, bread and gas have risen by 40%.
2. housing continues in depressed state. 20% of all homes in Florida remain empty. The
gov't is now moving to renting out their gov't owned homes. Of course this is what started
the collapse when the Fannie Maes and Freddie Macks went broke taking the major banks
down with them.
3. unemployment - 14M Americans are unemployed. Add another 10M
that are underemployed.
See link for rest.
Last edited by AirFlacco; 08-02-2011 at 04:49 AM.