Recessions Mean Negative Growth

The Washington Post told readers that the economy is at risk of a double-dip recession because reported job growth fell to zero in August. Actually, the zero figure was due to some quirks (e.g. the Verizon strike). The only double-dip recession of the last 50 years (1980-81) was quite deliberately engineered by the Fed. A major component of GDP will have to turn sharply negative to cause growth to go in reverse. This will require more than the gradual shrinking of the government sector, and t...