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DOUBLE DIP DEBATE: Analysts Banter on Likelihood of a 2nd Economic Downturn (Guest in EDT)
In the last several days, the economic frowns are popping up like dreaded dandelions.
Home sales have hit a wall with the government tax credit expiring. The already anemic job market has ebbed even further in the last two months, no longer able to lean on the crutch of Census temp workers. And retail stocks have dropped with fears of slower consumer spending.
Now, economists are looking at a drop in crude oil, as industrial nations see a decline in demand with the prospect of a double-dip recession.
But will there be a double-dip recession? If you Google the keyword phrase, you’ll find half of the reports say “yes,” and the other half “no.” But if you ask WebToday columnist and economic analyst Bob Rinear, there is a lack of a prerequisite to the debate that renders the question moot.
“The problem is,” says Rinear, “a ‘double dip’ implies that you’ve recovered. Well, contrary to what the government would like us to believe, we never have recovered.” Not since the recession officially began in December 2007.
Instead, Rinear says the focus should really be on debating the concept of more federal spending. “The truth is, any perceived recovery has been the result of us partying on trillions of dollars of stimulus money printed from thin air and tossed on the taxpayer. Now, the stimulus boondoggle is over and we’re sinking again.”
Unfortunately, to say there is no double-dip recession on the horizon does not mean a brighter future. “It’s not only the taxes that will hit us. It’s cap and trade, carbon taxes, China slowing down . . . you name it. It’s all tied together and it’s going to be ugly.”
So, where do we go from here? Are we destined to be saddled in the longest economic trough in history, validating those who want to call this the Great Recession? Call Special Guests today to arrange an interview with Bob Rinear, expert economic analyst for www.WebToday.us—one of the oldest, most well-established daily conservative news websites on the Internet.
ABOUT ROBERT (BOB) RINEAR (pronounced reh-NEAR):
InvestYourself was founded in October 1997 by Robert Rinear, who owned several successful business ventures primarily in the jewelry industry. In fact, his introduction to the financial world began as the result of his experience timing the price of tangible assets, including gemstones, gold and silver, all on a daily basis—a talent critically needed to be successful in the jewelry industry.
As Bob Rinear saw the price of gold soaring in the late 1980s, he needed to find the causes of that move. What he found was intriguing. Political issues, global economics and even something as simple as the industrial output in Japan would move the price of tangible assets.
He needed to learn more.
As he became more “in tune” with the global economic process, he noticed that one of his best customers traded stocks and options on a daily basis. With Mr. Rinear’s views on the overall economic situation and “Charley’s” ability in picking stocks, they found a winning combination. But it still wasn't complete.
Once introduced to the intricacies of the equity markets, it didn’t take Mr. Rinear long to realize that he had a knack for predicting the everyday flows of the stock and options markets. He began to attend trading seminars and training camps with the desire to learn how to make profitable trades on a daily basis.
One thing became abundantly clear—none of the classes gave him the total picture about how to accomplish his goal. Something was still missing in regards to how to make a living by trading stocks and options. Likewise, he realized that not all opportunities came in just stocks and options. Sometimes it was a quick move in precious metals or Treasury bonds. Other times it may have been a move in a currency.
Not to be defeated, Mr. Rinear slowly developed his own trading style that began to produce profits. After taking what he learned from the seminars and injecting his own methods of calculating stock movements, options movements, currency, real estate and Treasury movements, a successful concept emerged. He expanded this trading concept into a workable platform that anyone could follow. That was the beginning of his newsletter “Market Insight & Outlook” (now the Financial Intelligence Report). From those first few issues it became clear that the public would benefit from his years of research. He decided to offer it to the masses.
From that humble beginning a company called “InvestYourself” was created. Its main goal is to help investors of every experience level gain the investing knowledge necessary to win in a tough game that includes enabling investors to grow in their knowledge of real estate, stocks, bonds and finances in general.
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