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08-12-2011, 09:33 AM #1
Moody’s Zandi: Next Recession to Feel More Like Depression
We cannot continue to import other country's poverty and pay for their economic gains on the backs of US citizens.
Moody’s Zandi: Next Recession to Feel More Like Depression
Thursday, 11 Aug 2011 07:30 AM
By Michelle Smith
Economists may debate whether the United States is headed for another recession, but there is a general consensus about one thing: if it happens, Recession 2.0 would be worse than the last and very difficult to escape.
If the economy double dips, Mark Zandi, chief economist at Moody's Analytics, told CNN Money that "it won't feel like a new recession. It would likely feel like a depression."
The problem, according to The New York Times, is that “most major measures of economic health — including jobs, incomes, output and industrial production — are worse today than they were in 2007. And growth has been so weak that almost no ground has been recouped.â€Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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