Lakshman Achuthan, managing director of the Economic Cycle Research Institute, sits down with CNN’s Ali Velshi to talk about the likelihood of a double-dip recession. It seems like I’ve been talking about the probability of this happening for nearly a year, but now this expert is stating that a double-dip recession is imminent — if it hasn’t already started. Achuthan says “dozens of leading indexes are falling” and this is typically only seen when a recession is underway or starting.
Although experts are now concerned that a double-dip recession is on the horizon, many consumers question whether the recession ever ended. From a technical standpoint, a recession happens when the GDP has negative growth for two or more quarters.
The most recent period of decline, dubbed The Great Recession, officially began in December 2007 and ended in the summer of 2009. Unfortunately both the job and housing markets failed to recover and so for many, the recession didn’t end despite the official definitions.
Just look at the comments posted on the CNNMoney.com
article accompanying the video to see the broader picture of the nation’s economy.
Mikrik13 comments, “America never left the last recession and is clearly in a depression now with no end in sight or reason to think anything will change. All self inflicted by a self serving congress and upper 1%.”
Safer says the nation’s health care crisis is playing a role, “I suppose when Americans spend all their money on health care and gasoline there isn’t much left over to stimulate the economy.”
SchoolerMom shares her sentiments, “I don’t think we EVER got out of the last one. Nothing has really changed in the past few years. More people out of work, losing their homes.”
These views aren’t just limited to CNN.com readers; the opinions shared in the comments section can be found on news sites and message boards across the Web. What's your opinion on the matter — double-dip recession or just one multi-year recession?