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Sure, this is only a recession so far and on Monday a recovery of the stock is expected after a worldwide coordinated plan is coming. Even if that works, the pr
by alecco 18y ago
Sure, this is only a recession so far and on Monday a recovery of the stock is expected after a worldwide coordinated plan is coming. Even if that works, the problem is far from over as the IMF, World Bank, and major players state the risk.
But back to calling names...
From http://en.wikipedia.org/wiki/Depression_ http://en.wikipedia.org/wiki/Depression_(economics)
"There is no official definition for a depression."
"a depression is characterized by 'unusual' increases"
[ ] "unusual" increases in unemployment
[ X ] restriction of credit
[ X ] shrinking output and investment
[ X ] price deflation or hyperinflation
[ X ] numerous bankruptcies
[ X ] reduced amounts of trade and commerce
[ X ] volatile/erratic relative currency value fluctuations
Many of those are just starting but coming strong. For example all the announcements on mass layoffs (eBay, HP, and Virginia state.)
- lacker 18y agoActually, it is not even formally a recession yet. No official declaration has been made by the NBER (official definition in the U.S.) nor have there been two consecutive quarters of contracting GDP (the traditional rule of thumb). See: http://en.wikipedia.org/wiki/Recession#2008_recession_in_some_countries http://en.wikipedia.org/wiki/Recession#2008_recession_in_som... According to Intrade there is even a 20% chance or so that we avoid recession entirely for the next couple quarters.