Tuesday, July 6, 2010

Whalen: We're in a Double Dip Right Now

If you look at what’s going on in the real US economy versus the public sector, the picture is pretty grim, according to Chris Whalen, managing director of Institutional Risk Analytics.

“The real economy is contracting, and there’s no credit either from banks or from vendors,” Whalen told CNBC.

“We’re seeing what normal is right now,” he added.

Whalen said the financial regulatory reform bill, which is headed to the Senate later this month, will be an additional negative for the economy.

Whalen gets it. The economy is dead in the water, once you take out the manipulations. Further, the new regulations in healthcare, personal finance and banking will slow the economy even more.


  1. Despite his highly connected background, he does not appear to pull punches. As Taylor pointed out, his recent speech at the Mises Circle was one of the most interesting.


  2. As for the upcoming financial deform bill, I found this insightful satire: