Nouriel Roubini predicts that the chance of a double dip recession is now over 40%:
Roubini’s assertion that the governments inability to enact serious policies to curb the failing of private markets should be taken very, very seriously. Obama’s original stimulus package netted real results, but clearly wasn’t big enough to have a sustained effect on the devastated economy. Had they passed a big enough stimulus in the first place, the economy would be in far better shape. Instead they will have to go back to the public and ask for another one while dealing with a stream of Republican abuse that the ‘stimulus didn’t work”.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.