I really don't like this continuing bad news any more than any one else but we have to know and deal with the reality of the economic trouble we are in if we hope to be able to plan for the future. I just read this article on Newsmax.com.
Rosenberg: US Certain to Slip into Double-Dip Recession
Friday, 13 Aug 2010 01:40 PM Article Font Size
By: Dan Weil
The U.S. economy is nearly certain to slip back into a double-dip recession, says David Rosenberg, chief economist at Gluskin Sheff.
"The risks of a double-dip recession — if we ever got out of the first one — are actually a lot higher than people are talking about right now," he told CNBC. "I think that it's almost a foregone conclusion, a virtual certainty."
Others are bearish on stocks too. “There are plenty of things for investors to worry about,” David Kelly, chief market strategist for JPMorgan Funds, told Bloomberg.
“The Fed’s movement toward some further quantitative easing reinforces the idea that they’re concerned about the economy.”
Please note two things about this article. First, the statement that we may have never gotten out of the "recession" just like I have been telling you and then that we are destined for even worse times. I also keep seeing more and more economists calling this a depression just like I have been telling you it is. I have also been showing you how and why the economy will continue to get worse.