New recession begins next year, Shilling says

By Howard Gold

NEW YORK (MarketWatch) — Rough patch or double dip?

That’s the debate going on these days from executive offices to the local malls. Business owners, workers and, yes, even economists are trying to decide whether the U.S. economy has hit a speed bump or is heading for a collision.

We all know growth is tepid, unemployment is a bear and housing, well, stinks. That’s why major Wall Street firms, the International Monetary Fund and, on Wednesday, the Federal Reserve all slashed their estimates for U.S. GDP growth this year.

http://www.marketwatch.com/story/new-recession-begins-next-year-shilling-says-2011-06-24