March 28, 2012

I've Got A Feeling

I've got a feeling that there is going to be a double dip portion of Obama's recession this year.  I'm not saying that because of the price of oil, or the European debt crisis or the bursting of a bubble in China.  Nor is it because of a problem in the domestic housing market, or the national debt or the potential of inflationary pressure because of the actions of the Federal Reserve.

It's entirely anecdotal.  But today a company that I used to work for went through another round of layoffs - something they've done annually for the last three years - except that they did it every year in the October window.  They just finished a bonus round of layoffs in the spring - today.  And they're not the only one I have insight into personally.  In Canada and the United States I've heard a lot of tales of layoffs over the last three months and in a few different industries - finance, aviation and telecommunication.

It's hard and typically not wise to take anecdotal evidence and assume that it represents a broader picture.  It's a recipe for misreading the bigger picture.  Nevertheless, my anecdotal evidence covers two countries and and three industries and quite a few people.  Maybe I'm wrong, but I've got a feeling that a we are headed into another recessionary period.  That's very bad news, but the silver lining is that it may mean no more Obama after the election.
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