Second U.S. recession could be worse than the first

“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” Conrad DeQuadros, senior economist at RDQ Economics, told the New York Times.
The Standard and Poor’s downgrade of the U.S.’s credit rating bodes ill for the world’s financial markets as well as the domestic market.
President Barack Obama, once the debt deal with Congress to avoid a debt default was struck, announced a pivot to focus on jobs.
“I’ll continue also to fight for what the American people care most about: new jobs, higher wages and faster economic growth,” Obama said in a statement to press after the debt deal was passed last week.
While the working age population has grown 3 percent in the past four years, the economy has 5 percent fewer jobs — or 6.8 million less than four years ago. Unemployment stands at 9.1 percent.
Economists don’t think another stimulus package will do the trick, either.
“There are only so many times the Fed can pull this same rabbit out of its hat,” Torsten Slok, the chief international economist at Deutsche Bank, told the Times.
US Debt
Archives
Twitter Updates
- @drboycewatkins1 There is this guy on YouTube by the name of LaoShu50500. He is a BROTHER (Afro American) that flu… twitter.com/i/web/status/1… 2 years ago
- @drboycewatkins1 Excellent languages choices! English b/c it's your mother tongue, Spanish b/c of the Latin influx… twitter.com/i/web/status/1… 2 years ago
Translate
Recent Posts
- The Last, Great Run For The U.S. Dollar, The Death Of The Euro And 74 Trillion In Currency Derivatives At Risk
- Are you ‘over-connected’?
- Earth-directed solar X-flare March 11
- Rate Of Climate Change To Soar By 2020s, With Arctic Warming 1°F Per Decade
- American Millennials Are Some Of The World’s Least Skilled People, Study Finds
- Russia and North Korea forge ‘year of friendship’ pariah alliance
Archives
- March 2015
- February 2015
- December 2014
- November 2014
- September 2014
- December 2013
- November 2013
- October 2013
- August 2013
- March 2013
- February 2013
- January 2013
- December 2012
- September 2012
- August 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
Top Posts & Pages
- Chinese Troops Seen in Mexico
- Is Our Sun In The Very Early Stages Of Shutting Down?
- Strong to major earthquake is guaranteed to hit Southern California near the Salton Sea in the next 7 days
- Next round of smartphones to incorporate biometrics
- American geopolitical expert sees South China Sea conflict
- Magnetic north shifting towards Russia
- Earthquakes and Volcanoes in Prophecy
- Alarming NOAA data, Rapid Pole Shift
- Rare Caterpillar-like Horizontal Earthquake Discovered
- Water supplies may run out by 2030 in India: Study
Links
Blog Stats
- 1,360,416 hits
No duh.