The New Century Weekly

The New Century Weekly
Double dipping again

Andy Xie
May 30, 2011

Summary

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The double dip scare has begun earlier this year than in 2010. High oil prices, falling property market in the US, sovereign debt crisis in Europe, recession in Japan, and inflation-induced tightening in the emerging economies are exerting downward pressure on the global economy. The growth data will surprise on the downside, inflation data on the upside. Risk assets like stocks and commodities will come under pressure in the summer.

Ken Langone: US Economy Like a 'Drunk That Keeps Drinking': Langone - CNBC

Ken Langone: US Economy Like a 'Drunk That Keeps Drinking': Langone - CNBC

By: CNBC.com

The struggling U.S. economy, held up by "artificial" stimulus, is not unlike a "drunk that keeps drinking," Ken Langone, former director of the New York Stock Exchange and co-founder of Fieldpoint Private Bank and Trust told CNBC Tuesday. ...

The Return of Greek Tragedy - CNBC

The Return of Greek Tragedy - CNBC

By: Reported by David Faber, written by Gennine Kelly

Economist Joseph Stiglitz is warning that Europe is at risk of going into a double-dip.

According to Bloomberg, the Noble Prize winner told Dublin-based RTE Radio on Tuesday that when the Euro-area governments stepped up efforts to cut deficits to below the European Union limit of 3 percent of gross domestic product, so many in Europe focused on this "3 percent artificial number, which has no reality and is just looking at one side of a balance sheet," Stiglitz said. ...

CNBC Stock Market News — Why Markets Will Avoid Double-Dip: Chief Strategist - CNBC

CNBC Stock Market News — Why Markets Will Avoid Double-Dip: Chief Strategist - CNBC

By: JeeYeon Park

With stocks lower for the fourth trading session, are we headed for a double-dip? David Kelly, chief market strategist at JPMorgan Funds, and Sandy Lincoln, investment strategist at M&I Investment Management, shared their insights. ...

Shiller sees significant likelihood of double dip MarketWatch News Break - MarketWatch

Shiller sees significant likelihood of double dip MarketWatch News Break - MarketWatch

There's more than a 50% chance the economy is heading for a double dip recession. And noted economist and author Robert Shiller tells MarketWatch News Break that the Federal Reserve may now lack the power to end the gloom and doom. Shiller now wants Washington to pass a new job-creating stimulus package. Plus, John Madden's videogame empire keeps growing.