The mainstream financial press has finally discovered the concept of the double dip recession.
Funny, I have been warning about one for over a year now. Here is my post in this blog from August 13, 2009 discussing the upcoming double dip recession and even then, as I do now, blaming much of this mess on Bernanke.
It's obvious that when the only support for the economy is excessive fiscal and monetary stimulation, withdrawing that support will make it fall. Think about what happens when you see an old man walking with a cane and then kick the stick out from under him.
So the media, like this quite good article from the financial website 24/7 is now talking about the potential for a double dip recession. But guess what? It's already here. What do you think all these recent weak economic data numbers suggest? A future recession? Sorry to bring you the bad news but the future is here and she's angry, mad, and hungry to eat all the jobs and government cash in sight.
Investors need to plan for the double dip right now. If you are a bull, you are going to get gored.
Robert J. Abalos, Esq.