Double Dip Thought

I'm not an economist, but here's something I'm wondering about:  We keep hearing conservatives predicting, with great satisfaction, that the recession is going to have a "double dip" in which Obama's success at keeping us out of a Republican depression will vanish in the mist. For some reason, they seem to think that would be a good thing.  Well, anyway, here's a chart of the Dow over the last year:












Today, the Dow, which was devastated by eight years of Repubican rule, returned to over 11,000 for the first time in six months, roughly since all of the "double-dip" talk became so popular on the right.  So here is what I'm wondering:  is this the double dip that we are looking at in this chart, and if so, is it already over?

I admit that I don't know enough about economics to answer this question, but I would like to know.  I guess time will tell.

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