Headed toward a double dip recession?
Posted: Fri Sep 30, 2011 12:05 pm
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If it happens, will Obama survive it despite the weak crop of candidates fielded by the GOP? Will this be an indictment of the GOP House majority and the Tea Party?The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute.
"It's either just begun, or it's right in front of us," said Lakshman Achuthan, the managing director of ECRI. "But at this point that's a detail. The critical news is there's no turning back. We are going to have a new recession."
The ECRI produces widely-followed leading indicators which predict when the economy is moving between recession and expansion. Achuthan said all those indicators are now pointing to a new economic downturn in the immediate future.