Do you think a double dip recession is coming?

[Savoir Faire-Demogague in NJ]

I know that job openings and firms looking to hire IT staff has picked up rather rapidly the last few weeks. A day does not go by where I get at least four emails or more, and a couple of phone calls about job opportunities.
I cannot speak for other sectors.

[pig]

I'm thinking it's going to be much worse than a recession. I hope I'm wrong but I don't foresee any good things in this country's short term future.

[wodehouse]

ha, I read "With the droughts and rain crop production is being..." as referring to "doughnuts". yum!

[bean29]

Someone has not had their breakfast this morning.

_____

As far as the OP goes, I don't know. I do know food is going up. Cars are pretty expensive - I could buy a new one - mine has 127,000 miles but I am hoping to get another 1-2 years out of it. I am second guessing myself and wondering if I wait to buy a car will I lose b/c prices will be driven up higher?

My DH's income is going to stay up over 100,000/yr. Last year was a really good year, don't think we will duplicate that -- it was due to special conditions that will not be duplicated this year. Our cell bill is up substantially, but I was looking around and we are still getting a good deal for the plan we have. Had to buy coffee last week. $10.00 for 4 lbs of Folgers - it used to run just under $6.00.

I got my fall catolog for Eddie Bauer. I had a shirt I liked that got wrecked with the new tide gel pack thingies that go in the washing machine. I was going to re-order it - thought I paid around $15-17 but it is 26.00 in the fall catalog. Cotton is supposed to be up substantially in fall. My family will have to cut back on entertainment and clothing purchases to cover the food/gas/utilities but we will be fine. I do worry about the effect this will have on people with fixed incomes.

[jarhead1976]

Yes, Commodity's are going to go Sky High .

[zibazinski]

My tenant tried to go to another state to look for a job. NOTHING and was told he cannot take unemployment benefits with him and the new state won't extend him any. Glad he gets enough to pay the rent!!!!

[Deleted]

No. Jnst a long, slow haul from the pit we were in...

[tskeeter]

No. Just a long, slow haul from the pit we were in...

Could be some minor softening, but nothing like 2008/2009, unless the politicians do something stupid, like jacking up tax rates. (For you financial history buffs, many"experts" believe that tax rate increases extended the 1929/1930 Great Depression by several years and created the double dip that occurred then.)

[phil5185]

With the droughts and rain crop production is being effected all over the world.

Corn prices look good (good if you grow corn )

finance.yahoo.com/q?s=CORN&ql=0

[Malarky]

I guess the part that I think is really scary is that after the fed pumped all that money into the economy, this is where it has gotten us.



We're in a pretty good place and I've been poor before and could do it again, although I would really prefer not to.
I'm surrounded by people who lived on the edge. They're one paycheck away from disaster. Putting it off for a couple of years has only delayed the inevitable for some of them.

[Havoc]

May 26, 2011 8:40:57 GMT -5 @patstab said:

I think food prices are going to be insane in the coming months and year at least. With the droughts and rain crop production is being effected all over the world.

Right-e-o. Take the weather-related food disruptions and combine it with the increased price of gas, then add the fact that most of our food supply is shipped hundreds of miles, and take a guess at where that takes us. It will inconvenience most people, and be a real hardship on those with fixed incomes (or no income/unemployment)

[❤ mollymouser ❤]

Wow, PatStab ... that's dry!

[AgeOfEnlightenmentSCP]

What's coming is not a 'recession'. What's coming is something closer to a meltdown- we are on the brink of another financial crisis, and it could be compounded by a currency crisis.

[qofcc]

I think someone in govt will come to their senses and will end the wars. That will be a big economic plus for America. I think a little bit of the smaller govt thinking will prevail and that will be a big economic plus for America.

We can only hope. It sickens me the amount of money we're spending on and against other countries. The US could be self supporting if we wanted to and if we didn't need the oil from these other countries, the government would be perfectly happy to mind their own business and let the people over there go back to the bickering they've been doing since time out of mind.

[stats45]

I don't think there will be a 'double dip recession', but I think the growth estimates for the next year or so are very optimistic.

[Deleted]

Nope. I expect slow growth through the next 18 months followed by optimism after the election.

[Nazgul Girl]

Phil, my husband is curious as to how far out you are buying ( if you are ) CORN ( the link that you posted ), in other words, how long you would hold it. If you don't feel comfortable on commenting on this, we understand. The only commodity we presently hold in a futures type of format is GLD. Thank you.

[tloonya]

May 28, 2011 5:33:22 GMT -5 qofcc said:

I think someone in govt will come to their senses and will end the wars. That will be a big economic plus for America. I think a little bit of the smaller govt thinking will prevail and that will be a big economic plus for America.

We can only hope. It sickens me the amount of money we're spending on and against other countries. The US could be self supporting if we wanted to and if we didn't need the oil from these other countries, the government would be perfectly happy to mind their own business and let the people over there go back to the bickering they've been doing since time out of mind.

So?

[qofcc]

I think someone in govt will come to their senses and will end the wars. That will be a big economic plus for America. I think a little bit of the smaller govt thinking will prevail and that will be a big economic plus for America.

We can only hope. It sickens me the amount of money we're spending on and against other countries. The US could be self supporting if we wanted to and if we didn't need the oil from these other countries, the government would be perfectly happy to mind their own business and let the people over there go back to the bickering they've been doing since time out of mind.



So?

So, it's a nice and reasonable thought, but I doubt the government is going to come to it's senses anytime soon because as long as we need oil they're going to continue to get involved in the business of countries in the oil producing areas.