Economists: U.S. Has No Way To Avoid Double Dip Recession
Washington, DC, United States (AHN) - The U.S. economy is "tipping into a new recession," the esteemed Economic Cycle Research Institute says. Moreover, there is absolutely nothing that policy makers can do to stop it. In a statement on its website, ECRI stated that it warned its clients last week about the looming double-dip recession. The only thing ECRI says it is not certain of is whether the recession is just around the corner or if it has already started. The ECRI also made a case for why people should heed its forecast.
READ MORE: http://moneymorning.com/2011/09/29/the-case-for-a-short-term-market-rally-and-how-to-play-it/
George Soros Thinks We're Headed Towards Another Depression
George Soros penned an article this morning that he thinks we are headed towards another Great Depression. You know what, he's right.
Europe is on the verge of a collapse, and unless something gets done relatively soon, (perhaps as soon as the next few weeks), Europe is likely to experience their own 2008 scenario. The U.S. and Chinese economies are heavily dependent on exporting goods to Europe, and with Eurozone growth slowing as a result of the potential default in Greece, and then on to the rest of the PIIGS, a "Great Depression-like scenario" could very well play out.
READ MORE: http://www.benzinga.com/markets/bonds/11/09/1954406/george-soros-thinks-were-headed-towards-another-depression
SUPER HOT: Insider Reports Germany Printing Up Marks will Abandon Euro
Long-time EPJ readers know that I have long identified Philippa Malmgren as a major insider. She was Special Assistant to the President for Economic Policy on the National Economic Council (President Bush). She was also a member of the President's Working Group on Financial Markets, aka, the Plunge Protection Team. Her client list includes every elite corporate firm in the world (The list is here.). She is now reporting, according to the Sweden's largest business paper, Dagens Industri, that she expects the Germans will announce they will return to the Deutschmark and that they have already ordered the new currency printed up.
Europe Financial Meltdown Converging With Slump Seen by Investors in Poll
Global investors anticipate Europe’s debt crisis leading to an economic slump, a financial meltdown and social unrest in the next year with 72 percent predicting a country abandoning the euro as a shared currency within five years, a Bloomberg survey found. About three-quarters of those questioned this week said the euro-area economy will fall into recession during the next 12 months and 53 percent said turmoil will worsen in a banking sector laden with government bonds, according to the quarterly Global Poll of 1,031 investors, analysts and traders who are Bloomberg subscribers. Forty percent see the 17-nation currency bloc losing at least one member in the next year.
READ MORE: http://www.bloomberg.com/news/2011-09-29/world-recession-seen-triggered-by-europe-breakdown-in-global-investor-poll.html