05 Aug 2011 Markets Suggest Double Dip
Posted at 13:42h in The Friday BriefA friend suggested the other day that “if we are in a recession, at least we can now begin looking forward to the recovery.” The economy has certainly received some serious knocks lately and one could easily make the case that the two-year recovery is in trouble. Supply disruptions from Japan’s earthquake dealt the first blow followed by an equally devastating rise in oil and gasoline prices. Then came the political train wreck over the debt ceiling with questionable warnings of US default coupled with more substantial threat of a downgrade of US debt (S&P has not yet announced their decision). Add Europe’s debt problems and emerging market slowdowns and the global picture gets darker.