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.


  1. Could we possibly make the argument as I have in the past that we never have gotten out of the last recession and in fact are on the precipice of a depression? One can sure see here in Vegas that the so called rosy outlook is pure bull if one really looks!

  2. I agree Joe, but it depends on who you are talking to - some people require more convincing than others that that is the case.


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