World Economy: A Second Great Recession Is Possible In 2012 - by Peter Morici

Just as the US economy appears to be improving, four sets of forces could thrust America into an abyss rivaling the Great Depression.

First, for decades, the Washington has pursued more open global trade and domestic deregulation. These unleashed great potential for innovation and growth; however, China and other nations have abused freer trade through export subsidies and import barriers to boost their economies at the expense of others. And, in some industries, a few players have amassed great monopoly power-notably, large financial houses on Wall Street and Europe now have an iron grip on lending.

For more: A Second Great Recession Is Possible In 2012 - Seeking Alpha