Second Recession in U.S. Could Be Worse Than First

[defendandprotect]

Second Recession in U.S. Could Be Worse Than First


If the economy falls back into recession, as many economists are now warning, the bloodletting could be a lot more painful than the last time around.

Given the tumult of the Great Recession, this may be hard to believe. But the economy is much weaker than it was at the outset of the last recession in December 2007, with most major measures of economic health — including jobs, incomes, output and industrial production — worse today than they were back then. And growth has been so weak that almost no ground has been recouped, even though a recovery technically started in June 2009.

“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” said Conrad DeQuadros, senior economist at RDQ Economics.

When the last downturn hit, the credit bubble left Americans with lots of fat to cut, but a new one would force families to cut from the bone. Making things worse, policy makers used most of the economic tools at their disposal to combat the last recession, and have few options available.

http://finance.yahoo.com/news/Second-Recession-in-US-Could-nytimes-2428475539.html?x=0

[Fresh_Start]

1. no kidding...many of us used up our resources the first time around

and have nothing left to tide us over for another 3 years

[bdamomma]

2. this sentence from the last paragraph is what the repigs want

for the American people. they will ultimately put the americans on their knees, we need to fight back.


"the credit bubble left Americans with lots of fat to cut, but a new one would force families to cut from the bone".

[RC]

3. Then Tax The Well-To-Do and get our Living Wage Jobs back into this country.

And that is only a start, but will go a very long ways toward heading heading off the second recession.

[NNN0LHI]

4. And the third one could even be worser

AHHHHHHHH!

Don

[cutlassmama]

5. that's because this is a depression not a recession.

[defendandprotect]

7. Obama called it a "depression" this time last year -- it was quickly scrubbed from Yahoo report ...

and replaced with "recession" --

[leveymg]

6. The Obama Admin. & Congress did everything except what they should have done: impose

discipline upon the markets, the multinationals, and the Uberwealthy, raised taxes on the top bracket, used the power of federal agencies to force large corporations to return offshored profits and jobs to the U.S.

There are still a thousand prison cells with the wrong batch of criminals inside.

The government has a vast reserve of things it has not done to address this crisis.

[kestrel91316]

8. We are already in it. And it is. This is the Great Depression v 2.0.