STUDY SAY WE ARE MOST LIKELY........ Global Recession Increasingly A Risk, Say Economists Discouraging economic data from around the globe have heightened fears that another recession is on the way. Fresh evidence emerged Thursday that U.S. home sales and manufacturing are weakening. Signs also surfaced that European banks are increasingly burdened by the region's debt crisis and sputtering economy. The rising anxiety ignited a huge sell-off in stocks that led many investors to seek the safety of U.S. Treasurys. A survey by the Federal Reserve Bank of Philadelphia shows that manufacturing in the mid-Atlantic region contracted in August by the most in more than two years. The steep drop, on top of a smaller decline in a New York Fed survey this week, means U.S. manufacturing probably contracted in August, economists said. It would be the first decline since July 2009 – a worrisome sign because manufacturing has been a key source of U.S. growth in the two years since economists say the Great Recession ended. Morgan Stanley's calculation of a one-in-three risk of a new recession hinges, in part, on its expectation that Congress will let a Social Security tax cut, a business tax credit and extended unemployment benefits expire at year's end. It calculates that the expiration of those measures would reduce U.S. growth by 0.5 to 1 percentage point in 2012. Jitters over the economy and financial markets may also reduce auto sales. That would be a blow to an industry that reported strong profits and healthy hiring earlier this year. J.D. Power and Associates has cut its 2011 sales forecast last week by 2 percent and its 2012 forecast by 3 percent. Dow Jones industrial average has lost more than 14 percent since July 21. That includes Thursday's drop of more than 419 points. ECB said Thursday that one bank had borrowed $500 million a day for seven days through the ECB's dollar lending program. Are We Headed for Another Recession? As the stock market and consumer confidence plunge, analysts say there is a 1 in 3 chance we could relapse. http://www.huffingtonpost.com/2011/08/18/global-recession_n_930936.html?icid=maing-grid10|htmlws-main-bb|dl9|sec1_lnk2|87915 Are we headed into a world recession and hardship if so how and what can we do to help secure ourselves ??? Does this mean we need to now pull moreso together in effort for survival ??? If we fall into recession can we bounce back or will it spell dooms day ahead ???