Will we have a double dip recession in 2010?

1 Answer

Answer :

answer:There are many who refuse to believe that we have had a recession, but considering that many companies have figured out how to make a profit without hiring and the true extent of unemployment (estimated at >22%) and the fact that over 60% of Americans are now living paycheck to paycheck (assuming they even have a paycheck), I think it’s a moot point. I have heard it said that, at least in WA state, every dollar of unemployment generates $1.90 in the economy since those dollars are immediately spent as opposed to sitting offshore somewhere collecting interest, It is also said that consumer spending is what really drives the economy, but the upward flow of wealth means that the majority of us have less to spend. My take on it is that a double-dip requires an actual upswing in the middle. WE have been sliding downwards for a while, and any apparent upswing is an illusion, so it won’t be a double-dip; it’ll be a continuation of the downwards spiral that wil loccasionally slow but still tend to head downwards. But as long as the CEOs are collecting record bonuses, who cares?

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