LA Times: Fear of a new U.S. recession is no longer a fringe view

By Tom Petruno
Market Beat

August 20, 2011


The U.S. economy has officially been out of recession for two years, but fear of falling back into the abyss has dogged the recovery every step of the way.

Now, the prospect of recession no longer is a fringe view.

"Recession is not inevitable, but I think there's better than a 50-50 chance now," said Bill Gross, the respected investment chief at bond fund giant Pimco in Newport Beach.

Stock markets worldwide have been ringing warning bells since late July, as share prices have plunged in the steepest pullback since the 2008 financial-system crash. The Dow Jones index sank nearly 600 points combined on Thursday and Friday and slumped 4% for the week, its fourth straight weekly decline. ..............(more)

The complete piece is at: http://www.latimes.com/business/la-fi-0820-petruno-column-20110820,0,5314163.column

You can give all the stats you want about being out of the last recession but we never made it out. Not with millions of Americans still out of work.

Now it reads like something from the Department of the Obvious.

Typical for the LATimes, the suckiest of all the major dailies.