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I am a canadian senior who lives in the central part of Canada. I have been blessed in the sense that I have worked in the legal community as a professional, owned a successful building construction firm and have published several books. Presently I am trading in the stock market and I might add... More
  • Is This Economy Poised for a Double Dip Recession? 0 comments
    Dec 10, 2009 7:11 PM

    Most economists seem to be ruling out a double dip in the economy any time in 2010 or 2011 predicting growth but at a slower pace. I wonder if those prognosticators have taken in consideration the following data:
    1. The looming effect of toxic asset backed paper that hasn't been dealt with by the major banks;
    2. The existing lack of unfreezing in the credit;
    3. The total impending foreclosure collapse of residential and commercial mortgages looming in the background held together by a thread of extensions;
    4. The continual printing and monotonizing by several developed fiat currencies;
    5. The continual lack of consumer participation in the market place;
    6. The inability of the private sector to supplant the government stimulus programs;
    7. US legislators willingness to engage into bold and costly social programs backed by President Obama;
    8. The continued extension of costly wars;
    9. The willingness of the US government to tax the rich and penalize the poor through a form of social redistribution without building a sustainable work force;
    10. The willingness of the US government to allow small interest groups to influence government policy restricting the working class by forcing employers to seek foreign employment as a less costly alternative.

    These points that I have itemized have little or no recognition in this present US Administration. If these areas are not addressed by the first quarter of 2010 then I predict that by 2011 we are going to experience a severe double dip recession that could surpass the most recent dip that occurred in late 2008. I rest my case. Disclosure; "No positions" LOL Looking after your money. 

    Disclosure: No positions

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