Ceridian Report says “Shipping Decline Signals Weaker Holiday Season”; Phone and Email Interview with Ceridian Chief Economist Ed Leamer
Bernanke is certainly doing everything he can to avoid a double-dip, but it is highly unlikely QEII will do any good. I made the case in Three Reasons QEII Will “Backfire”; Pavlov’s Dogs and the “No Choice” Argument Yet Again.
Please give that a read if you have not yet done so.
If Congress raises taxes and does not extend unemployment benefits I think a double-dip recession is a given.
Regardless, if “housing is the business cycle” then things prospects for jobs do not look good, whether there is a double-dip or not.
In conclusion, we are likely in for a period of low-growth or no-growth accompanied by painfully high unemployment for quite some time. Is that what the stock market has priced in?”
Via MISH’S Global Economic Trend Analysis