The Dow Drops and the Possibility of Recession Looms

Monday, August 8, 2011

“I think there could be another recession by the definition of negative economic growth,” said Dr. David Vang with the University of St. Thomas. He added that we might be in a recession right now.

“Having this second dip or second recession means this period of unemployment will probably continue on for another year,” Vang said.

Vang suggests that people should continue contributing to their 401Ks.

“The good news is that you’re buying that close to an all time low, and 20 years from now, you’ll be glad you did,” he said.

Vang says that a government solution might not happen anytime soon. The government has “run out of bullets,” he said. "

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Originally published: 08/08/2011, WCCO-TV