Written by:
Andrea Schiller

No double dipping

Many are eagerly awaiting the end to the late 2007 recession that has plagued our beloved country. Although there seems to be a light at the end of the tunnel, we may be faced again with a second recession.

Double dip recession, or the return of a recession after an apparent end, may soon be upon us. The gross domestic product may be higher than predicted, but the unemployment rate is quickly reaching more than ten percent, something our nation has not seen since the 1980’s.

The usual helpful economic forces that work to mobilize the economy, are not working as well as in the past. “Technology, construction and finance- all sectors that have powered the US economy out of the doldrums in the past- are flat this year" In addition to these unmoving sectors, the real estate business is expected to receive another economic blow.

Double dip recession has not been seen since the Rust Belt of the 1980’s, where the economy was so bad, countless factories had to close, leaving the gates to rust.

Let’s hope that the end of the recession leads to a time of prosperity and not another dip.

Photo courtesy of Flickr