Poll of the Day: Double Dip Recession?
Calculated Risk had an interesting poll over the weekend showing how pessimistic people remain. Over 57% of people that voted in the poll expect a double dip recession which appears absurdly pessimistic at this point in the recovery. The only likely scenario to cause a double dip would be massive tightening from the FED. Until that happens, it doesn't seem logical to invest with that expectation. Now I think Calculated Risk is typical for internet blogs in that they tend to bring out the pessimistic people. This ratio though is off the chart. Only 2% expect a GDP growth of over 4% for next year completely going against history of substantial growth in years following serious recessions. Is that because the last 2 recessions were very weak on historical norms so people are expecting a repeat of recent norms? Or are the facts really suggesting an economy with sub par growth? Seems that the facts suggest a 4% growth so we don't really comprehend the rational for such negativity....