Sorry Mr. Bernanke: There Will be a Double-Dip Recession

Despite what U.S. Federal Reserve Chairman Ben S. Bernanke said in his speech at the International Monetary Conference yesterday (Tuesday), it looks very much like we're headed for a double-dip recession. Indeed, the economic reports of the last week or so demonstrate that the U.S. job machine was never really jump-started after the Great Recession of 2008-09. The upshot: The U.S. economic recovery is stalling, and we're almost certainly looking at a double-dip downturn. Recessions are always painful - and double-dip recessions are even more so. And this second "dip" may be more of the same - a bloody economic downturn that leads into a feeble recovery with unemployment spiking to even higher levels than we're currently seeing. But there's a slight chance that this double-dip recession could prove quite productive for the U.S economy. Let me explain. To continue reading, please click here...