A double-dip is bad. It refers to the manner of economic decline occurring almost immediately after a short recovery from a preceding decline of real GDP. As occurred in the 1930s (which is where the spin term 'recession' comes from, not wanting to 'panic' the people as the Great Depression seemed to ameliorate, only to fall into almost as deep a pit) a decline so soon after the original fall is exemplary of not fundamental economic weakness (in that supply and demand markets of consumers and producers) as much as a third party foisting policies and perverse incentives that divert sincere efforts at economic activity. Rent seeking, moral hazards, all these and more are increasingly ours, causing effort to be wasted in avoiding gov't regulations and penalties, instead of creative effort to enhance and innovate products and services.
Read on: http://www.foxnews.com/politics/2010/08/27/economic-growth-rate-downgraded-anemic-percent-second-quarter/
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Share your unique economics experiences. What did you have to give up to gain that which at the moment seemed so necessary to you? Imperfect information spanked you and now diminishing marginal utility smacks you upside the head, eh?