View Full Version : Obama confident no 'double-dip' recession coming

5th August 2010, 08:53 PM
President Barack Obama says he is confident the nation will not suffer the "double dip" of back-to-back recessions.

The rebound of the U.S. economy appears to be slowing, prompting fears that the nation will slide into recession again after a brief period of growth.

Obama told a CNBC interviewer he was confident that won't happen.

He acknowledged that much work remains on problems such as long-term unemployment. But the president expressed confidence that the economy is moving in the right direction.

U.S. economic growth slowed to 2.4 percent from April to May, down from 3.7 percent in the first three months of the year.

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Source: http://www.newsmax.com/InsideCover/US-Obama-No-Double-Dip/2010/08/05/id/366754

Of course there'll be no double-dip recession.

There'll be a decades-long inflationary depression but, of course, such a highly intelligent, knowledgeably economic, and experienced intellectual knows that we're on the road to financial prosperity. :sarc:

Edit: Even some of the statists disagree:


1970 silver art
6th August 2010, 03:41 AM
Of course the president is going to say that the economy is moving in the right direction. He has to say that regardless of how bad the economy really is.