Seinfeld and “Double Dip Recession”
I don’t know about you, but whenever I hear the term “double dip recession” I immediately think of Seinfeld. Anyone else?
In the classic episode, “The Implant,” which first aired in February 1993, George is at a funeral reception for his girlfriend’s aunt. When George dips a chip, takes a bite, and then dips the same chip again, his girlfriend’s brother, Timmy, confronts him and hilarity ensues.
Not so much hilarity will ensue if there is a “double dip recession” – defined as: when gross domestic product (GDP) growth slides back to negative after a quarter or two of positive growth. A double-dip recession refers to a recession followed by a short-lived recovery, followed by another recession.
What’s more, Investopedia explains it as “a slowdown in the demand for goods and services because of layoffs and spending cutbacks from the previous downturn. A double-dip is a worst-case scenario. Fear that the economy will move back into a deeper and longer recession makes recovery even more difficult.”
The term “double dip recession” belongs right there with “trickle-down economics” as two of the most annoying phrases of the past century.
So what are we to make of this latest “double dip recession” talk?
Neil Stern, a retail analyst and senior partner for retail consultancy McMillan Doolittle, believes we won’t see a “double dip recession”, but warns of meager future growth as well.
“I think retail has flattened out and we will see moderate gains against tough numbers from a year ago,” Stern says. “We still need to see job growth, home price stabilization, and other more positive economic indicators to signal real growth.”
Stern expects holiday sales figures to rise slightly against weaker comps, and 2011 “should also be up slightly but the economic situation could have a huge impact.”
September 9th, 2010 at 4:20 pm
I disagree with Neil Stern… I do believe we will see a double dip recession, and even worse. We haven’t even hit rock bottom yet.
So, you should ask yourself — how are YOU preparing for this? Are you living within your means? Are you buying good, durable products that will last? Are you getting out of debt? Stocking away some savings for a rainy day? Are you learning more skills vs. watching TV eating potato chips?
What about your health? It will be more important than ever to stay healthy, or get healthy if you aren’t healthy. The chemicals we put in our body from processed foods, the high rise in obesity and diabetes… the junk foods and sugars… genetically modified crap the government allows in almost 75% of all our food… yeah, it is only getting worse from here on out… just wait and see.
But not to be the bearer of bad news… I just want to say that you can prepare yourself. Save, get out of debt, grow as much of your own food as possible (this is something I learned to do recently, and fell in love with gardening — now, I realize that it is very relaxing working in the evenings in my garden — much easier to wind down from my busy day pulling weeds or looking at my gorgeous vegetables, berries and herbs… vs. watching TV. ) Also, continue to increase your skills and knowledge. Don’t waste time watching TV (can you tell I am anti-TV, even though we have one in almost every room of the house?) Read a book about a subject you want to learn about… find a passion / hobby that thrills you. Learn all you can about it, and then find another one, and learn about that, too.
Just some suggestions…