Double Dip Recession

Now there are talks about double dip recession. It is really scary. After the first recession, I am not sure if we are ready for the next.

The report on China in Newsweek is comparing China with Japan at a similar stage in economic development. China's growth will start to slow down at a more reasonable pace in a few years.

Western developed countries are starting to learn they can no longer spend their way out of recession. That is debt is bad and thrift is good. The governments have to reduce their spending and cut services. This mean jobs as the government is the largest employer in any country.