Is it just me, or is anyone else getting tired of the liberal media’s ANNUAL double-dip recession talk? What does double-dip recession even mean? The definitions are all over the map, depending on who you listen to, but in general, it is a return to a recession after a short-lived recovery.
2007
The overwhelming majority of media claims the recession started in 2007. What the mainstream media should have claimed was victory in 2007, as they spent the entire Bush presidency trying to convince the public that the economy was bad. You remember; this is way back when unemployment barely broke 5% and gasoline was under $2 a gallon. We would hear people say how bad things were, but it was never them, it was the other guy… who? “I dunno but people are hurting…”
Compare this to today, when things are really bad. If you haven’t been unemployed yourself in the past few years, you likely have a close friend or family member who has, and you can easily point to them.
2008
The year of Obama (If you are Chinese, 2008 was also the Year of the Rat). As the year gets started and it looks as though they will get either Hillary or Obama elected, the media has a big problem on its hands. Everything they allow to define a lousy economy falsely is heading south. They talk about how much better it will be under the Democrats, but they know it’s not going to be. They must do something to brace the public for the coming disaster, other than simply blaming it on Bush. The Double-Dip Recession arrives:
From the Wall Street Journal (02/08/2008):
The economy isn’t even officially in recession yet, and already some are warning of a “double-dip”: a slump, followed by a brief recovery, then renewed slump.
Double-dip recessions are rare and not well defined.
The Agenda was clear:
From the Washington Times (12/26/2008):
With only 26 days left to harangue, mock, and bash President Bush, some of our colleagues in the media aren’t wasting a day. Bashing ex-presidents, except those with shrill prominent wives, isn’t nearly as much fun as bashing while he’s still the real thing.
There’s method in the gladness at the New York Times, which relieved itself at the beginning of Christmas week with an umpity-thousand word accusation – beginning on Page One and continuing across several acres of newsprint inside – that George W. Bush invented the meltdown of the subprime housing market, which in turn has led to the collapse of Detroit and all kinds of nasty things for Atchison, Topeka and maybe even Santa Fe.
The point of the epic was clearly to portray George W. as the new Herbert Hoover so that when recession becomes Depression (with the capital D), not a single rabbit will be safe anywhere, everyone will remember who did it, and – voila! – The Republicans will be shut out of the White House and control of Congress for a generation, and maybe more.
2009
Nouriel Roubini, the New York University professor who predicted the financial crisis, said the chance of a double-dip recession is increasing because of risks related to ending global monetary and fiscal stimulus.
Could a double-dip recession be near?
That’s enough to convince some observers that the economic recovery is faltering and could be heading for a “double dip” recession. That would mean the recent green shoots of recovery are just a pause in a much longer economic slide.
And management consultant Peter Cohan wondered in his economic blog: “I don’t know why the market moves up and down from day to day, but lately a growing fear of a double-dip recession could be a contributing factor.”
6 double dip warning signs
Will recovery turn into recession?
Most economists agree the U.S. economy is in recovery. The question is whether it will stay that way.
The economy grew at a 3.5% annual rate in the third quarter. But even with that shot in the arm, there are plenty of worries about whether the economy could topple into another period of decline, or “double dip” recession, early next year.
President Barack Obama issued his sternest warning yet about the need to contain rising U.S. deficits on Wednesday, warning that if government debt piles up too much, it could lead to a double-dip recession.
2010
Christian Science Monitor (06/05/2010):
US is falling into a double-dip recession.
The only reason the economy isn’t in a double-dip recession already is because of three temporary boosts: the federal stimulus (of which 75 percent has been spent), near-zero interest rates (which can’t continue much longer without igniting speculative bubbles), and replacements (consumers have had to replace worn-out cars and appliances, and businesses had to replace worn-down inventories). Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).
But all these boosts will end soon. Then we’re in the dip.
A Double-Dip Recession Defined
Concerns are rising that the economy is at risk of slipping into a “double-dip” recession.
What the Double-Dip Recession Will Look Like
A growing and vocal minority of economists believes that there will be a double-dip recession primarily because of the intransigence of high unemployment and the rapidly faltering housing market.
Mother Jones (08/25/2010):
Is A Double-Dip Recession – Or Worse – Finally Here?
In the past few days, though, a chorus of economists have voiced increasingly pessimistic views on where the economy is headed. Mark Zandi, chief economist at Moody’s Analytics and a former McCain aide, said on Monday that the housing market was headed for a “double-dip” of its own as the last effects of the federal government’s first-time homebuyer tax credit finally escape the housing market. “We probably, almost assuredly, will experience more house price declines,” Zandi told CNBC. “By those two criteria, I think that would qualify as a double dip.”
2011
The lame-stream media is once again pimping the notion of a double-dip recession and everyone is talking about it as though it is something real. Well, it’s nothing short of pure fiction. We would have had to have some real recovery, then dip back into recession again.
While there is no official definition of recession, it is commonly described as short-term.
From Webster: Depression:
A period of low general economic activity marked especially by rising levels of unemployment.
This is where we are – DEPRESSION – and Obama OWNS it, whether the lame-stream media acknowledges it or not.
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