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View Poll Results: Is USA Heading Towards A Double Dip Recession?
Yes, it's going to be vary very difficult! 1 25.00%
No, USA rocks. I'm happy! 2 50.00%
Can't Say! 1 25.00%
Voters: 4. You may not vote on this poll

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  #1  
Old January 17th, 2010, 05:52 PM
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Exclamation Double Dip Recession In USA??

US fears double-dip recession with rising job losses



Hopes that low interest and higher spending would halt slide
85,000 December job losses reveals 'disappointing' outlook

Friday 8 January 2010 14.44 GMT

US job losses rise again in figures releases for December 2009 fearing a prolonged recession. An employment help centre in Miami, Florida. Photograph: Joe Raedle/Getty Images

Fears of a double-dip recession in the world's biggest economy were heightened today when Washington announced that the US shed 85,000 jobs last month.

Dashing hopes that America was pulling smoothly out of its toughest postwar economic setback, the commerce department revealed that the expected pre-Christmas hiring spree had failed to materialise.

Wall Street had been expecting fresh evidence that low interest rates and higher government spending were bringing a halt to the job losses that have sent the US unemployment rate spiralling to 10% – its highest level since the early 1980s.

Revisions to November's payroll data showed the first jobs growth – a 4,000 increase – in more than two years. But the dollar, shares and oil prices fell back when the December figures were published.

Since the start of the financial crisis in August 2007, the Federal Reserve had cut interest rates to barely above zero and created new electronic money in order to kickstart growth.

Analysts said the poor employment numbers meant there was little chance of the US central bank raising rates in the near future, and that was leading to pressure on the dollar.

Amelia Bourdeau, senior currency strategist at UBS, said: "It was disappointing. The market had been looking for a flat to slightly positive result and investors had been wondering whether or not the market would price in rate hikes sooner than expected. "That won't be the case. So what we're getting is a weak dollar reaction. I think we'll see selective risk-seeking now, as this number will suggest the Fed won't be hiking rates earlier than the second half."

Dan Cook, analyst at IG Markets in Chicago, said: "It's a surprise. I didn't think we'd see something like this until February. I thought we'd have more temporary workers, and the other job indicators we had seemed fairly positive.

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Old January 18th, 2010, 08:08 AM
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Re: Double Dip Recession In USA??

I still hold the view that property prices are in for a further correction, after the present euphoria gets over. The consumer still doesn't have enough purchasing power at today's prices; whatever the pending purchases. So, unless the consumer demand goes up, and stays up, the recession will continue.

The government spending on bailout is a patchwork measure, just like bandaging a fracture. The bone healing will take time. Reminding again, the property prices have historically seen a maximum fall at 2-3 years AFTER a recession.
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Old January 18th, 2010, 06:00 PM
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Re: Double Dip Recession In USA??

Surprisingly there is a hiring spree in India. Does this mean that projects are now being budgeted with Indian rates in mind only?

The US hopefully should be doing well soon. However there are some people who say that light at the end of the tunnel can be seen only at the end of year 2012!
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