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Posts tagged “gross domestic product”

By Robert Rapier on Apr 7, 2011 with 36 responses

A Double Dip Recession? Only If We Are Lucky

Former Secretary of Labor Robert Reich recently warned that the U.S. is likely headed back into recession: The Economic Truth That Nobody Will Admit: We’re Heading Back Toward a Double-Dip Why aren’t Americans being told the truth about the economy? We’re heading in the direction of a double dip — but you’d never know it if you listened to the upbeat messages coming out of Wall Street and Washington. Consumers are 70 percent of the American economy, and consumer confidence is plummeting. It’s weaker today on average than at the lowest point of the Great Recession. The Reuters/University of Michigan survey shows a 10 point decline in March — the tenth largest drop on record. Part of that drop is… Continue»