22 cities in danger of a double-dip recession

[Elmore Furth]

Source: CNN

By Hibah Yousuf, staff reporterAugust 18, 2010: 10:39 AM ET


NEW YORK (CNNMoney.com) -- The chance of a national double-dip recession is hotly debated amid an increasing number of signs that the economic recovery is losing pace, but the risk is particularly troublesome on a local level.

A new report from Moody's Economy.com singled out 22 cities that are at risk of slipping back into a recession in as early as three months. To come to this conclusion, the economists considered dwindling progress in employment, housing starts, home prices and industrial production.

"With chances of a national double-dip recession now estimated at about one in four, several metro areas will probably experience their own downturns in the first half of 2011," said economist Andrew Gledhill, author of the report.

The cities are:

Witchita, Kansas; Akron, Ohio; Anderson, S.C.; Athens/Clarke County, Ga.; Charleston, W.V.; Gadsden, Ala.; Gulfport/Biloxi, Miss.; Hot Springs, Ark.; Idaho Falls, Idaho; Kenosha County, Wisc.; Lafayette, Ind.; Lake County, Ill.; Lebanon, Pa.; Macon, Ga.; Missoula, Mont.; Mobile, Ala.; Pine Bluff/Little Rock, Ark.; Salem, Ore.; Springfield, Ohio; Utica/Rome, N.Y.; Wichita Falls, Texas; and Wilmington, N.C.




Read more: http://money.cnn.com/2010/08/17/news/economy/cities_risk_double_dip/index.htm

[TheWatcher]

1. What is WRONG with these idiots? If they warn everyone NOW, they aren't going to be able

to throw their arms excitedly over their heads and proclaim how "Unexpected" this all is, and how "No One Could Have Foreseen....."

They really need to get more Reality Show Producers working for the Fake Media.

We need better Drama Control.

[The Northerner]

2. Yikes.

My uncle lives in Akron, Ohio and he says that finding work is nearly impossible.

[we can do it]

7. Yep I Live There and It Sucks To Be Us

[Yeahyeah]

12. Is LeBron James right that Clevelanders look down on Akroners?

[Kolesar]

13. Cleveland's unemployment rate is below the national average

By a few tenths of a percent. Nonetheless, that is good news at a time when Ohio had auto plant closings.

It is surprising that Florida is doing much worse than Ohio.

[AnneD]

3. We is not in a double dip recession....

we is in a depression dat hazn't found de bottum yet.

[OhioChick]

4. +1 n/t

[Luciferous]

9. Yep.

[dixiegrrrrl]

15. Exactly as Denninger has been saying for 2 years.

"we aren't going to have a "double dip" as we never left the recession in the first place.
This is a Depression led by excessive credit - and we can't fix it without fixing the underlying cause, which we refuse to address."
http://market-ticker.org/archives/2594-Jobless-Claims-Back-In-Recession-Territory.html

[AnneD]

16. It took me a while .....

to come to the same conclusion-there were a few thing that I wanted to see what direction they were going before I called it. The fact that you get such damn sorry data doesn't help.

[Downwinder]

5. Don't have to worry about a double dip here.

We haven't hit bottom of the single dip yet.

[Turbineguy]

6. The GOP thinks America is in desperate need

of a depression. Hitler's and Stalin's ghosts must be wishing they had that kind of help in their day. At least Osama bin Laden gets the benefit of the GOP's help.

[Downwinder]

8. Everything I know about him comes from the GOP. n/t

[Luciferous]

10. My parents live in Kenosha. Things are pretty bad and

they will get even worse in October when the Chrysler plant shuts down and all of those people are out of work, including my dad. My father in-law also lives in Kenosha and says he has to turn away hundreds of people a week who are looking for jobs.

[TroglodyteScholar]

11. I moved from Macon last year...

...and it is a shithole through and through, even in good times. Now I'm in Racine, WI, and I'm particularly surprised that Kenosha is on the list, because they're doing a LOT better than Racine right now. Or at least they appear to be....

[Kolesar]

14. I would rather live somewhere that had four seasons

And Polish girls