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.