I don't know what Alex Tribec thinks about double dip recessions, but they seem to be sprouting throughout many of the major countries that have employed austerity measures after the financial crisis/Great recession of 2008-2009.
We need 7-8% of GDP spent EVERY year for 5-8 years, and a revist of New Deal tax policy and the Glass Steagal II bank firewall to have even a chance...... 23 million Americans would take a full time year round job..... if offered that job. U6 has been 15%+ for 3 going on 4 years.....
Japan post fukushima went into a recession, kind of doesn't count, since it wasn't austerity measures that cause or triggered the recession.
Britain
But it has now returned to recession amid painful government spending cutbacks and fallout from the debt crisis in the neighbouring eurozone, which is a key trading partner.
Britain joins a number of eurozone countries in recession, including Spain, and bailed-out nations Greece, Ireland and Portugal.
http://timesofindia.indiatimes.com/...
India
Shekhar Gupta Spots Recession in India
http://www.economonitor.com/...
Spain
NEW YORK (CNNMoney) -- Spain has fallen into its second recession since 2009 as its economy shrank for the second consecutive quarter, according to a government report Monday. There are now a dozen European nations that have had their economies shrink for two consecutive quarters, a condition that generally equates to a recession.
The Spanish economy, struggling with the aftermath of the bursting of a housing bubble, has been particularly hard hit by the economic turmoil rolling across Europe. On Friday, the government reported that Spain's unemployment rate hit record high of 24.4%.
http://money.cnn.com/...
All these countries have fallen back into a double dip recession since the financial crisis triggered the Great Recession of 2008-2009. How about some more austerity folks. How about we keep trying austerity, time and again, enough it doesnt help, we keep trying it again. Maybe we should try tax breaks for corporations and the rich......
Oh wait, how about a solution that actually works........ before the austerity measures destroy the European economy and drag the US down with Europe.....
France almost
http://articles.marketwatch.com/...
Italy and Netherlands too
Two of the eurozone's biggest economies have fallen into recession, according to the latest economic figures.
Italy and the Netherlands both saw their economies shrink by 0.7% in the fourth quarter, the second consecutive quarter of economic contraction.
http://www.bbc.co.uk/...
Fact of the matter is we, the nation, spend more time debating how to send the world into a Mad Max economy, vs any real talk of a real solution/s. Like right here:
follow through with the “Austerian,” $1.3 trillion in legislated budget cuts scheduled to be enacted as of January 1st, 2013.
http://www.dailykos.com/...
This is exactly the opposite of whats needed. We need to spend 5% of GDP each year, on infrastructure, about 750 million bucks, to create about 17-19 million jobs.
Use tax policy to incentivize capital (maybe?) on the scale of 2-3% of GDP into domestic investment to create jobs.
Focus on the next gen of energy infrastucture......
But we can always have a mad max world, unfortunately Mel Gibson will be there too.
For a total of 1 trillion in jobs stim, 20-25 million jobs.
Otherwise we will have a 20 year recession, and SS will go broke in 2033, but it may not matter because certain financial institutions we take for granted today, may not exist in 2033... so we wont have to worry about getting a SS check in the mail....
Cause in a Mad Max world, there is no SS nor is there a US gov to issue those SS checks.
/end slightly hyperbolic mode.
Until we change the fundamentals in a fashion like I've described, the foundation for economic stagnation/collapse exists, there is simply nothing in place to suggest anything better than 1.8%-2.2% GDP growth for 10-15-20 yrs.
Without 60+ votes in the Senate, removal of Blue Dogs, GOP extremists and Tea Partiers, we will see the next 4 years as an encore performance of the last 4 years economically, and a harbinger of things to come.
(Will be back to check comments after some errands)