Bill Wiseman of McKinsey & Company presented “Waking up to the new normal, the world economy after the great recession” at a recent ITAC GSA Conference. Bill supports my previous semiconductor financial predictions in great and graphical detail.
In the United States: unemployment claims are up, home sales are down without government incentives, and manufacturing growth is stalling. New claims for unemployment benefits recently jumped to 1.3 million people without federal jobless benefits, and that number could grow to 3.3 million by the end of the July due to political infighting. In Europe there is a debt crisis, in China there is an economic bubble, and the “double dip recession” search string is climbing the charts on Google.