NEW YORK (MainStreet) -- Forget werewolves, zombies and evil spirits. As Halloween nears, nothing could be scarier than the current state of our economy.
Although the country has been out of recession for more than two years, recent statistics are still enough to send chills down the spine – from an unemployment rate higher than 9% to increased poverty numbers and a soaring national debt.
To make matters worse, many experts say we should brace ourselves for more tough times in 2012.
“In the fourth quarter of this year people will probably ramp up spending for the holidays, but when the bills come in and people realize the financial reality of their situation, they’ll probably cut back dramatically in the first three months [of 2012],” says Bernard Baumohl, chief global economist at The Economic Outlook Group. “That could trigger a downturn in the economy.”
Baumohl predicts at least a one-quarter contraction in 2012, and says we might even be “on the edge” of another recession, or two consecutive quarters of negative GDP growth.
Read on to discover 10 of the most frightening facts about where we stand right now – and prepare to be spooked.