Tags: Dohmen | us | economy | Recession

Bert Dohmen: We're Already in a Recession

Wednesday, 10 Aug 2011 07:58 AM

Forget fears of a double-dip recession. We're already in a recession, says Bert Dohmen, president and founder of Dohmen Capital Research Institute.
Inflation rates today can be adjusted for many things, but classic inflation rates show the U.S. economy is contracting.

"Using actual inflation numbers in the economy — as it was calculated 30 years ago before they had all these gimmicks to so-called adjust inflation — then we are right now in a very important contraction already in the economy," Dohmen tells CNBC.

There are other indices out there that many investors overlook, such as the Dow Jones Transportation Index.

"This is very important because transportation is necessary to move goods," Dohmen says.

"If that index is plummeting, you'll know that goods are not being moved. And you'll know that there's something very bad is happening in [the] transportation sector."

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The index, according to Yahoo! Finance, is trading just above a 52-week low.

Officially, the economy is recovering from the recent recession although growth rates are sluggish and unemployment figures remain high.

More and more experts agree that a double dip recession is coming, with some agreeing with Dohmen that the U.S. never recovered from the first recession.

"I don’t think we ever left the first recession, this is one long period of economic difficulty and America is going to pay the price for all of these mistakes,” investment legend Jim Rogers tells Newsmax TV.

The Federal Reserve is to blame for the country's ills, Rogers says.

"The federal reserve is the main culprit because they kept bailing people out instead of letting the market clear and instead of letting people go bankrupt and start over," he says.

"If I had to blame one group I would blame the Federal Reserve under (Alan) Greenspan and (Ben) Bernanke."

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Forget fears of a double-dip recession. We're already in a recession, says Bert Dohmen, president and founder of Dohmen Capital Research Institute. Inflation rates today can be adjusted for many things, but classic inflation rates show the U.S. economy is contracting. ...
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2011-58-10
Wednesday, 10 Aug 2011 07:58 AM
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