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9/9/10

Quote of the Day: Mike "Mish" Shedlock

Quite clear the US economy is sliding back into recession, if not still in it...


The average consumer understands that, yet the average economist doesn't.


[At] this juncture, the debate as to whether the recession has actually ended or not is actually moot. The pertinent factor is: if there was a recovery, it now seems over.


Looking ahead, attitudes rule. With consumer spending weak and weakening, and now that the stimulus has run its course, the odds the 3rd and/or 4th GDP numbers will be negative are quite high, as are the odds of double digit unemployment numbers by the end of the year.

Michael Shedlock
65% Fear Double-Dip, 71% say US is Fundamentally Broken,
Net 32% Expect to Reduce Spending
Mish's Global Trend Analysis 09/09/10