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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (584240)9/3/2010 12:51:50 PM
From: tejek  Read Replies (2) of 1573852
 
A massive 86 percent of small-business owners fear a double-dip recession, according to a quarterly survey by Citigroup. That said, three-quarters of those polled say they are somewhat or very prepared for another downturn.

So what? Double dip has been the favorite meme in the press for months now. Its to be expected that business people are going to be worried about it. Of course, the press forgets to mention that a double dip recession is about as rare as a blue moon:

Concerns Overstate the Actual Probability

For starters, talk of a double-dip recession seems to always far outweigh its actual probability. And already-hurt workers and investors can't help but give it a bigger share of their mind than it might deserve.

But the U.S. has experienced just one double-dip recession in contemporary times. And that happened in 1981 under dramatically different conditions. Then, the Federal Reserve was forced to increase interest rates sharply to rein in runaway inflation. That move, led by then-Fed Chairman Paul Volcker, is often credited with setting the country up for strong growth despite the sharp initial pain it inflicted. (Prior to that, the only other double dip took place in 1937 during the Great Depression.)"

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You know what Chris.......we're done. You're not the person I thought you were.
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