Note of Introduction from your faithful blogger:
I have had multiple posts on the Recession issue and have done my best to show my disdain for anyone who has the audacity or snootiness to boldly lie to the American people (and those who watch America around the world) when it comes to the status of the Recession. In recent days I have started hearing the term Double Dip. This is horse poop if you understand the Recession never went away. What Double Dip does mean that the Federal Government does not talk about is that Congress, under the Obama Administration voted to allow double dipping by retired Federal Workers so they can take their retirement and go back to work for the Fed at their full salary and a new retirement in addition to the ones they already have. I have some friends who do this…
So, why the impetus to finally create the Recession Blues and Blahs? The following article.
There is one particular word in the article which I am reacting to. I have highlighted it but I think you would have guessed it too.
From The Washington Post.
News Alert: Sales of previously occupied homes drop to lowest level since ’95
10:07 AM EDT Tuesday, August 24, 2010
Sales of previously occupied homes unexpectedly plunged 27 percent in July from a month earlier to 3.83 million — the lowest level since 1995, according to a report released Tuesday morning by the National Association of Realtors.
While mortgage rates are at record lows, consumers have been skittish about making purchases due to concerns about their jobs and the value of homes.
For more information, visit washingtonpost.com:
- “Double Dip Delayed, Not Derailed; Understanding Consumer Spending” and related posts (globaleconomicanalysis.blogspot.com)
- George Soros on the ‘Blah’ Economy and China’s ‘Phenomenal’ Rise (dailyfinance.com)
- Doggies the Littlest Victims of Subprime Crisis [The Poors] (gawker.com)
- America faces double dip recession (rt.com)
- Make That Two Scoops… (dave-lucas.blogspot.com)
- Next, A Vicious New Year’s Hangover (247wallst.com)
- Slower Growth Ahead, but a Double-Dip Is Unlikely (dailyfinance.com)