All we hear is denial from the “experts” (except for the real experts, such as ECRI). But, the American people are convinced we're already in another recession. No, not a double-dip, another recession. Moneynews reports:
Sixty-two percent of Americans feel the country has slid into a recession, a Rasmussen Reports poll finds.
Meanwhile broader confidence in the economy continues to fall.
The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, dropped three points on Sunday to 84.9. The index is down a point from a week ago, down two points from one month ago and down four points from three months ago.
"Sixty-two percent (62 percent) of consumers believe the United States is in an economic recession, while 20 percent disagree," Rasmussen reports.
Investors feel just as gloomy about the economy as do consumers.
The Rasmussen Investor Index fell two points on Sunday to 91.2, just above a five-month low last week.
So, why is the Fed sitting on its hands? It's hard to tell, but if they're worried about sending the dollar down, they needn't worry. Morgan Stanley reports there's a $2 Trillion shortage of dollars world-wide. Yes, you read that right. Despite printing $2 Trillion since 2008, the world is still short of dollars by the same amount. So, if the Fed hadn't printed all those dollars, the shortage would be $4 Trillion.
It's time for the Benanke to fire up the printing presses once again and “save” the economy.
Either get off of dead center, Fed, or we'll just have to end you.