Welcome Back Recession: Manufacturing Surveys Imply US Economy Has Entered The Second Month Of A Second Recession…
Or a re-recession depending on how you want to phrase it.
(Zero Hedge) — There may be those among the less than brainwashed lemmingerati out there who have noticed what, as we have pointed out for the past month when reporting on the various manufacturing and regional Fed indices, has been an epic collapse in the appropriate data series. As John Lohman so kindly demonstrates, the two month implosion has been beyond epic, and while certainly the biggest drop in the past decade, may also be the all time worst ever.
To the point of this post: the last time we had an economic contraction of this magnitude was back in February of 2008, which was two months into the most acute recession in post-depression history. We are confident that once the groupthink wraps its head around the fact that the auto production based renaissance is not coming, and the economy officially tumbles into the commode of Ben Bernanke’s fiat dungeon, the NBER will determine (with an appropriate 12-18 month delay), that the current recession started in April of 2011.
Posted by ZIP on Monday, June 27, 2011, at 8:01 pm | 
Tweet
Or…… just plain old Depression.
@sb
Yup.
How can we be 2 months into a second recession when we never got out of the first?
ZeroHedge a few months ago linked to this following report. We aren’t entering a double dip, we never left the first dip in the first place, we were just bouncing along on the bottom…. we are now entering the big event, a greater depression bigger than the one in the 40′s, and we have maybe a span of 10 yrs to fix it, or else, kiss our US dollar as the world’s reserve goodbye, hyperinflation, and the plumeting of middle class std of living.
http://www.shadowstats.com/article/hyperinflation-special-report-2011
BS you lying Ahole ZIP! This is the summer of Recovery!!!!!!
Oh, wait……., that was last summer!
Biden is starting to really smell bad right about now, ain’t he?!?
But on Tuesday obama will go to Alcoa Davenport Works Factory in Bettendorf, Iowa, to tour the facility and discuss the critical role that the manufacturing sector plays in the American economy.” He will say how much he had done for manufacturing jobs. I hope he doesn’t read this article or else he will have to put another speech into the teleprompter.
on drudge:
http://www.ft.com/cms/s/0/23183a78-a0c6-11e0-b14e-00144feabdc0.html
US dollar to lose reserve status within the next decade.
I third “depression”.
There was anemic positive gdp growth for most of what we call the Great Depression. Then the other shoe dropped in ’37. It was a big ol’ double dip recession that never had a real recovery due to too much government intervention, pretty much like we’re having now.
or…..
DOUBLE DIP RECESSION……….
hey zer0………
“We told you……but you didn’t listen……because you won.”
And Corpsemen will be doing the heavy work, and MOH winners will all be coming home alive.
This guy is the biggest POS that has ever got TV time in this country.
And Michelle Bachman is a flake???
Screw you Chris Wallace, of Mike Wallace fame. When did you, or your leftist puke dad, ever ask that question of the obumbler? Never!!! Chris Wallace is a leftie in disguise. FOX News is a leftie organization now that the 2012 elections are in full swing.
I have noticed the swing over the last few months. I think that is why Beck is leaving. Call me a conspiracy theorist all you want. But FOX is going left. It sells more papers for Rupert Murdock. AKA Morlock the Shyster!
Please slam me if I am wrong 16 months from now.
@Andrew
I agree with you about Fox News. Cavuto and O’Reilly, in particular, trip over themselves interrupting and talking over conservative guests.
And O’Reilly isn’t yet on a level with Chris Matthews when it comes to slobbering over Obama, but he’s working on it.
I’m with you Andrew..
You are on to something
And O’Reilly…he is a moronic fraud
It was never a recession but a depression which has never ended but is now getting worse. Obuttma is giving high fives at this news to his communist cronies in the Crack House which used to be called the White House.
Fox News is unwatchable since it morphed into a propaganda media outlet. Bill O’Reilly goes out with Chris Matthews on dates where they take turns dressing up as Obuttma and give each other tongue baths.
Kinetic recession…?
Double dip, the first recession getting worse or whatever you want call it. The problem is political, the reality is those inside the FED know exactly what to do but the political appointees will not or cannot let them do what is necessary. The real reality is the politicians are making things much worse, this really is looking like a version of Great Depression 2 or an American version of Japan’s lost decade. We are in for years of Deflation which is what is actually happening right now and has Actually been happening for the last several years. Hyperinflation, there is absolutely zero signs of this past, present or future, the reality is the exact opposite, have you checked you paycheck lately? Politicians call for austerity, cutbacks as they try to run the FED monetary policy like household finance. This works very well politically and makes the recession much worse. The FED has an absolute money monopoly it cannot go broke like you can if you go nuts with your credit card. The FED cuts back you cut back, the FED cuts back more you cut back more, hell eventually we will be in a barter economy. I think we are in for many years of high unemployment and low pay As long we continue down this path.