Text: No, the writer was confused about the difference between odds and probability. It would have been more correct to say that the "probability" of a double-dip recession had risen to 50%. This implies that the probability of NOT having a double-dip was also 50%. This is what the economist was referring to when he said "50-50". If the probability was 50%, then the odds are 1, sometimes referred to as "even odds," meaning equal probability of the event happening or not happening.