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Kiss That V-Shaped Recovery Good-Bye: The U.S. "Worse Than Greece," Says Economist

My argument is this.. there is NO double dip because we have not come out of the recession..

Kiss That V-Shaped Recovery Good-Bye: The U.S. "Worse Than Greece," Says Economist
Posted Feb 15, 2010 08:30am EST by Peter Gorenstein in Recession, Banking, China
Related: tlt, tbt, xli, udn, uup, spy, dia
There's been many letters and symbols used over the last year to describe the shape of the U.S. economic recovery. There's the strong V-shaped recovery; the square root shaped recovery to connote a strong recovery followed by a period of flat to no growth; and the W-shaped recovery favored by those believing in a double dip recession.

Tech Ticker guest Michael Pento has a new twist on the discussion. Pento, senior market strategist with Delta Global Advisors believes this is a tee-pee shaped recovery with the top of that tee-pee having already formed in the fourth quarter.

Pento is negative on America's near term economic prospects for three main reasons: too little bank lending, too few jobs and too much public and private debt. "I've never seen a v-shaped recovery occur when commercial bank lending was down 7% year over year. So, small business are not getting loans to create capital goods and to expand and hire individuals," he observes.

http://finance.yahoo.com/tech-ticker/article/423723/Kiss-Tha...