Double-dip, recession, economy, banking, financial Hope for the best. Plan for the worst.
by Steve Fleming on September 22, 2010

No matter how many articles you read, or stories you hear on the news about the economic outlook, you’ll find a variety of prospective. The truth is that no one can predict the future performance of the economy with certainty.

Notwithstanding the disclaimer above, I do have a view on the economic outlook. I don’t believe that our political leaders are being honest with the American public about the depth of economic and fiscal challenges that we are facing. It is not politically attractive to be perceived as lecturing the public about our excesses over a long period of time and the need for us all to cut back. In addition, the aging population (i.e. baby boomers approaching retirement) represents a "game changing" event in our economy. The bottom line is that I believe we have a tough road ahead of us and the most likely case scenario is that we will have very slow economic growth for an extended period of time.

Don’t forget the old adage: ‘Hope for the best, but plan for the worst".

In the meantime, I did find a couple of articles that I thought were quite interesting and informative and may provide a bit more insight on the future of our economy.

Top Economists Double-dip survey
http://money.cnn.com/2010/09/20/news/economy/double_dip_economists_survey/?section=money_latest

How to tell when a recession is really over
http://money.usnews.com/money/blogs/flowchart/2010/09/15/how-to-tell-when-the-recessions-really-over

Links:
Recession:
http://en.wikipedia.org/wiki/Recession

Double dip recession:
http://en.wikipedia.org/wiki/Double_dip_recession#W-shaped_recession

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