Thursday, January 19, 2012

USA Today Poll: 30 Percent of Economists Predict New Recession

The economy suffered a heart attack in 2007. Since then we've been eating hamburgers and fries and hoping that our collective heart gets healthy. We live in a fools paradise. It is ironic that we actually face obesity problem as a nation:

A USA Today poll of 39 economists show 30 percent predict a new recession to strike the economy soon, twice as many compared with a similar poll just over three months ago.

Further shocks to the stock market or turns for the worse in the European debt crises could easily throw the U.S. economy back into the depths of economic contraction.

The best-case scenario sees the economy behaving pretty much like it is now — limping along, growing 2.5 percent a year compared with 3.1 percent in the newspaper's last quarterly poll.

Many economists say growth needs to shoot way above 3 percent a year to make a serious dent in high unemployment rates.
Full article

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