[Robert B. Reich] Why EU double dip could spread to U.S.
May 6, 2012
Europe is in recession. Portugal, Italy and Greece are basket cases. The British and Spanish economies have contracted for the last two quarters. It seems highly likely that France and Germany are in a double dip as well.Why should we care? Because a recession in the world’s third-largest economy (Europe) combined with the current slowdown in the world’s second-largest (China), spells trouble for the world’s largest (that’s still us).Remember, it’s a global economy. Money moves across borders at