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.In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time.^ The time in between is a recession, a period when economic activity is contracting.
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ The usual dictionary definition is "a period of reduced economic activity", a business cycle contraction.
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ Everyone knows that recession is a general slowdown in economic activity in such a country over a sustained period of time, or a business cycle contraction.
  • Recession Dating | Mother Jones 14 January 2010 3:03 UTC motherjones.com [Source type: General]

[1][2] .During recessions, many macroeconomic indicators vary in a similar way.^ During recessions, many macroeconomic indicators vary in a similar way.
  • Recession, Economic Issue - News - Evri 14 January 2010 3:03 UTC www.evri.com [Source type: News]

^ PM PDT. During recessions, many macroeconomic indicators vary in a similar way.
  • Recession Dating | Mother Jones 14 January 2010 3:03 UTC motherjones.com [Source type: General]

^ Name: Anonymous Even though communities are pulling together in various ways to work through the current recession, there are negative aspects.
  • Stories From Around the World About the Recession | Thank You Recession 14 January 2010 3:03 UTC www.thankyourecession.com [Source type: General]

.Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise.^ In a recession the demand for the products of most businesses declines, causing a fall in sales, production and employment.

^ Tags: interest rates during recession , interest rates in recession , Recession and interest rates .
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.
  • Recession, Economic Issue - News - Evri 14 January 2010 3:03 UTC www.evri.com [Source type: News]

.Recessions are generally believed to be caused by a widespread drop in spending.^ The Recession Generation When will you believe the recession is over?
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ A shift into recession causes the unemployment rate to rise quickly, while it drops more slowly in recoveries.
  • Econbrowser: Recession indicators 14 January 2010 3:03 UTC www.econbrowser.com [Source type: General]

^ He described the cause of the recession to a group of kids as follows… It was caused by consuming less than was made and spending more than was earned.
  • Recession | Business Innovation Speaker and Consultant Stephen Shapiro 14 January 2010 3:03 UTC www.steveshapiro.com [Source type: General]

.Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.^ Recessions can usually be halted by expansionary monetary policy, which involves increasing the money supply, thus reducing interest rates and making credit easier to obtain, or by expansionary FISCAL POLICY , which involves increased government expenditure.

^ Even at 2% Fed fund rate, the shrinking M3 money supply is proof that monetary policy is still tight (see What makes monetary policy ‘loose’ or ‘tight?’ ).
  • recession « Contrarian Investors’ Journal 14 January 2010 3:03 UTC cij.inspiriting.com [Source type: General]

^ Recessions tend to increase the level of frontier TFP (technology growth and efficiency) but decrease the rate of technical progress.

Contents

Identifying

.In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for identifying a recession, one of which was "two down quarters of GDP".[3] In time, the other rules of thumb were forgotten,[4] and a recession is now often defined simply as a period when GDP falls (negative real economic growth) for at least two quarters.^ The time in between is a recession, a period when economic activity is contracting.
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ Without at least one more quarter, I would say two more quarters, of negative GDP growth, there will be no recession in 2008 (or 2009).
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

^ From the growth (or contraction) of real GDP, we can then define when an economy is technically out of (or in) recession.
  • recession « Contrarian Investors’ Journal 14 January 2010 3:03 UTC cij.inspiriting.com [Source type: General]

[5][6] .Some economists prefer a definition of a 1.5% rise in unemployment within 12 months.^ Still, many analysts worry the nation could be in for a "jobless recovery" as the unemployment rate rises despite some overall economic growth.
  • Cleveland & Ohio Economic Crisis & Recession News | The Great Recession - cleveland.com 14 January 2010 3:03 UTC www.cleveland.com [Source type: News]

^ Michigan's financial state By Sandra Gallop on Sep 28, 2007 8:58:26 AM 5 months later we have watched Michigans unemployment and forclosures rise.
  • ‘One-state recession’ hampers Michigan 14 January 2010 3:03 UTC www.stateline.org [Source type: News]

^ It is very likely that any recovery will be very sluggish, and if the economy turns down within the next 6 to 12 months, the NBER would probably consider that a continuation of the Great Recession.

[7]
.In the United States the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) is generally seen as the authority for dating US recessions.^ Q: Has the committee ever changed a cycle date?
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ The Business Cycle Dating Committee of the National Bureau of Economic Research met by conference call on Friday, November 28.
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ The Business Cycle Dating Committee of the National Bureau of Economic Research announced this afternoon that it had concluded that the country entered a recession in December 2007.
  • Recession Hits One-Year Anniversary - Money Beat 14 January 2010 3:03 UTC blogs.abcnews.com [Source type: General]

The NBER defines an economic recession as: "a significant decline in [the] economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales."[8] Almost universally, academics, economists, policy makers, and businesses defer to the determination by the NBER for the precise dating of a recession's onset and end.

Attributes

.A recession has many attributes that can occur simultaneously and includes declines in coincident measures of activity such as employment, investment, and corporate profits.^ A recession has many attributes that can occur simultaneously and can include declines in coincident measures of overall economic activity such as employment, investment, and corporate profits.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ A recession may involve declines at the same time in the measures of overall economic activity such as employment, investment, and corporate profits.
  • Recession History .com -providing valuable historical recession data & information on all past and current U.S. Recessions 14 January 2010 3:03 UTC recessionhistory.com [Source type: News]
  • Recession Cycle .com 14 January 2010 3:03 UTC recessioncycle.com [Source type: News]
  • Current Economic Recession .com -providing valuable historical recession data & information on all past and current U.S. Recessions 14 January 2010 3:03 UTC currenteconomicrecession.com [Source type: News]
  • Definition of Recession 14 January 2010 3:03 UTC definitionofrecession.com [Source type: News]

^ Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.
  • Recession, Economic Issue - News - Evri 14 January 2010 3:03 UTC www.evri.com [Source type: News]

.A severe (GDP down by 10%) or prolonged (three or four years) recession is referred to as an economic depression, although some argue that their causes and cures can be different.^ Typical signs of a Recession 1.3 The four economic stages 1.4 What Causes a Recession?

^ The papers are riddled with references to the "severe recession" and a few to economic "depression".

^ A depression is a severe recession.

[7] .As an informal shorthand, economists sometimes refer to different recession shapes, such as V-shaped, U-shaped, L-shaped and W-shaped recessions.^ Many economists would agree that the causes of the current recession are different than in 1980-82, and that some of the differences can be seen in the productivity data.

^ Understanding of the word "recession" differs between economists, newspapers, and the general public.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ No doubt if you were to ask 50 different economists to define the terms recession and depression, you would get at least 51 different answers for each term.

.In the US, V-shaped, or short-and-sharp contractions followed by rapid and sustained recovery, occurred in 1954 and 1990-91; U-shaped (prolonged slump) in 1974-75, and W-shaped, or double-dip recessions in 1949 and 1980-82. Japan’s 1993-94 recession was U-shaped and its 8-out-of-9 quarters of contraction in 1997-99 can be described as L-shaped.^ We could be facing a "double-dip" recession.
  • Drew Curtis' FARK.com -- links tagged 'recession' 14 January 2010 3:03 UTC www.fark.com [Source type: General]

^ Will this turn into a double-dip recession?

^ Japan Recession versus US Recession .

.Korea, Hong Kong and South-east Asia experienced U-shaped recessions in 1997-98, although Thailand’s eight consecutive quarters of decline should be termed L-shaped.^ Recession, technically, 2 or more successive quarters of declines in real Gross Domestic Product, calculated by adjusting for price changes.

^ A recession is a downturn in the business cycle that occurs when the real gross national product (GNP)—the total output of goods and services produced by the U.S. population—declines for two consecutive quarters, or six months.

^ Goldman's prediction calls for the recession to "last 2-3 quarters" and it "should be relatively mild by historical standards, with a cumulative decline in real GDP of only about 0.5 percent (not annualized)."
  • Wall Street Sees More Signs Of Recession Coming - CNBC 14 January 2010 3:03 UTC www.cnbc.com [Source type: FILTERED WITH BAYES]

[9]

Predictors of a recession

.Although there are no completely reliable predictors, the following are regarded to be possible predictors.^ These are regarded to be possible predictors.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ There are no completely reliable predictors.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ No doubt, there have been some signals in the U-Rate and other indicators of a possible recession in the making.
  • Econbrowser: Recession indicators 14 January 2010 3:03 UTC www.econbrowser.com [Source type: General]

[10]
.
  • Inverted yield curve,[11] the model developed by economist Jonathan H. Wright, uses yields on 10-year and three-month Treasury securities as well as the Fed's overnight funds rate.^ Another model developed by Federal Reserve Bank of New York economists uses only the 10-year/three-month spread.
    • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

    ^ Inverted yield curve , the model developed by Fed economist Jonathan Wright, uses yields on 10-year and three-month Treasury securities as well as the Fed's overnight funds rate.
    • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

    ^ Revised commerce department figures showed on Friday that US gross domestic product declined by an annualised rate of 5.7 per cent in the first three months of the year, compared with last month’s estimate of 6.1 per cent.

    [12] .Another model developed by Federal Reserve Bank of New York economists uses only the 10-year/three-month spread.^ Since 2003, Geithner has been president of the Federal Reserve Bank of New York.
    • The Great Recession | The Progressive 14 January 2010 3:03 UTC www.progressive.org [Source type: News]

    ^ Another model developed by Federal Reserve Bank of New York economists uses only the 10-year/three-month spread.
    • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

    ^ Oil prices may be soaring, but the economy is much less dependent on oil energy than 35 years ago, said Rae Rosen, senior economist of the Federal Reserve Bank of New York.
    • Parallels to '73 recession | New Jersey Business - - NJ.com 14 January 2010 3:03 UTC www.nj.com [Source type: News]

    .It is, however, not a definite indicator;[13]
  • The three-month change in the unemployment rate and initial jobless claims.^ DOL , economy , jobless claims , recession , unemployment claims , unemployment insurance claims , unemployment rate .

    ^ Still, many analysts worry the nation could be in for a "jobless recovery" as the unemployment rate rises despite some overall economic growth.
    • Cleveland & Ohio Economic Crisis & Recession News | The Great Recession - cleveland.com 14 January 2010 3:03 UTC www.cleveland.com [Source type: News]

    ^ In that paper, I modeled the unemployment rate as depending on an intercept and its previous two lagged values, with the intercept changing between one of three values-- a low level for normal times, and two higher values for mild and severe recessions.
    • Econbrowser: Recession indicators 14 January 2010 3:03 UTC www.econbrowser.com [Source type: General]

    [14]
  • .
  • Index of Leading (Economic) Indicators (includes some of the above indicators).^ Index of Leading (Economic) Indicators (includes some of the above indicators).
    • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

    ^ ECRI was founded by Geoffrey H. Moore who was called the "father of leading economic indicators".
    • Econbrowser: Recession probability index rises to 16.9 14 January 2010 3:03 UTC www.econbrowser.com [Source type: FILTERED WITH BAYES]

    ^ Technorati Tags: employment , recession probability , recession indicator index , macroeconomics , economics Posted by James Hamilton at August 24, 2008 08:03 AM .
    • Econbrowser: Recession indicators 14 January 2010 3:03 UTC www.econbrowser.com [Source type: General]

    [15]
  • Lowering of Home Prices. Lowering of home prices or value, too much personal debts.

Government responses

.Most mainstream economists believe that recessions are caused by inadequate aggregate demand in the economy, and favor the use of expansionary macroeconomic policy during recessions.^ A drop in spending, which accounts for more than two-thirds of the economy, would deepen what economists say is almost certainly the second recession of the decade.
  • Parallels to '73 recession | New Jersey Business - - NJ.com 14 January 2010 3:03 UTC www.nj.com [Source type: News]

^ The financial crisis is now likely to result in the most serious recession since the 1930s,” said the World Bank’s chief economist Justin Lin, as the group released its annual report on the global economy.
  • World Bank: recession worst since Great Depression NEW EUROPE - The European News Source 14 January 2010 3:03 UTC www.neurope.eu [Source type: News]

^ Mystery shoppers used to focus on high profile big spend services but in a recession they are now employed to scrutinise economy food and drink outlets.
  • Top Jobs In A Recession 14 January 2010 3:03 UTC www.10to1.com [Source type: FILTERED WITH BAYES]

.Strategies favored for moving an economy out of a recession vary depending on which economic school the policymakers follow.^ The following is a selection of items (artistic styles or groups, constructions, events, fictional characters, organizations, publications) associated with "recession" economy (economics) MAGAZINES SOURCES CLASSICS EBOOKS How bad will the recession be?
  • recession (economics) -- Britannica Online Encyclopedia 14 January 2010 3:03 UTC www.britannica.com [Source type: General]

^ The National Bureau of Economic Research defines economic recession as a significant decline in the economic activity spread across the economy, lasting more than a specified period.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ If that estimate is correct, it would represent the deepest cut to monthly payrolls since October 2001, when the economy was suffering through a recession following the Sept.
  • recession « Social Networks for Everyone!! Blog 14 January 2010 3:03 UTC socialshakers.com [Source type: General]

.Monetarists would favor the use of expansionary monetary policy, while Keynesian economists may advocate increased government spending to spark economic growth.^ While Keynesian economists may advocate deficit spending by the government to spark economic growth, supply-side economists may suggest tax cuts to promote business capital investment.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ "The tech industry may still be an area of growth and investment, but the trouble is that a lot of good businesses may not have access to capital to get their businesses off the ground," says Scott Watkins, an economist and consultant for Anderson Economic Group, an economic and financial consultancy.
  • 'Pervasive' Recession Won't Repeat Dot-Com Bust, Experts Say 14 January 2010 3:03 UTC www.wired.com [Source type: News]

^ Laissez-faire economists may simply recommend the government remain "hands off" and not interfere with natural market forces.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

.Supply-side economists may suggest tax cuts to promote business capital investment.^ While Keynesian economists may advocate deficit spending by the government to spark economic growth, supply-side economists may suggest tax cuts to promote business capital investment.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Populist economists may suggest that benefits for consumers, in the form of subsidies or lower-bracket tax reductions are more effective, and serve a double purpose including relieving the suffering caused by a recession.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Newsprint is consumed with stories and interviews on how the tough business conditions will promote cost-cutting outsourcing and off-shoring.

.Laissez-faire minded economists may simply recommend that the government not interfere with natural market forces.^ If the recession is nearing a close , as some economists argue , women may have lost the opportunity of taking over a majority of the labor force for at least the time being.

^ After all, women’s job force share may not continue growing once the economy recovers and the job market improves.

^ David Mackey I won't claim to be an economics wizard, but is more of the reason we may be facing a recession b/c of some undefeatable force or simply because we are afraid?
  • Surviving the 2008 recession 14 January 2010 3:03 UTC scobleizer.com [Source type: General]

Stock market and recessions

.Some recessions have been anticipated by stock market declines.^ Stock market and recessions .
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Some recessions have been anticipated by stock market declines.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Diversifying one's portfolio into international stocks may provide some safety; however, economies that are closely correlated with that of the U.S.A. may also be affected by a recession in the U.S.A. .
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

.In Stocks for the Long Run, Siegel mentions that since 1948, ten recessions were preceded by a stock market decline, by a lead time of 0 to 13 months (average 5.7 months), while ten stock market declines of greater than 10% in the DJIA were not followed by a recession.^ However about half of the declines of 10% or more since 1946 have not been followed by recessions.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ In the U.S. a significant stock market drop has often preceded the beginning of a recession.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ It should be noted that ten stock market declines of greater than 10% in the DJIA were not followed by a recession.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

[16]
.The real-estate market also usually weakens before a recession.^ The real-estate market also usually weakens before a recession.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ And with an ever-growing number of Americans losing their homes to foreclosure - the real estate market won't rebound for many, many years to come.

^ However real-estate declines can last much longer than recessions.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

[17] .However real-estate declines can last much longer than recessions.^ If the recession lasts much longer it will close us down.
  • Top 25 Careers to Pursue in a Recession - HR World 14 January 2010 3:03 UTC www.hrworld.com [Source type: News]

^ Revisions to official data reveal the current slump to be worse than that of the early 1980s when the decimation of manufacturing resulted in a 6% output decline Recession in cartoons .
  • Recession: UK, US and global recession news and analysis | Business | guardian.co.uk 14 January 2010 3:03 UTC www.guardian.co.uk [Source type: News]

^ The National Bureau of Economic Research defines economic recession as a significant decline in the economic activity spread across the economy, lasting more than a specified period.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

[18]
.Since the business cycle is very hard to predict, Siegel argues that it is not possible to take advantage of economic cycles for timing investments.^ Since the business cycle is very hard to predict, Siegel argues that it is not possible to take advantage of economic cycles for timing investments.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Although the economic recession lingers, each pair of Recession Denim is made to outlast the hard times, so that you look good no matter what.
  • WOMEN -> Recession @ Jeans.com Store 14 January 2010 3:03 UTC www.jeans.com [Source type: General]

^ If hard times have already fallen on a majority of Americans, then "recession" doesn't seem to be a very useful term any more.
  • Experts Warn of Recession -- Duh, We're Living in One Already | | AlterNet 14 January 2010 3:03 UTC www.alternet.org [Source type: General]

Even the National Bureau of Economic Research (NBER) takes a few months to determine if a peak or trough has occurred in the US.[19]
.During an economic decline, high yield stocks such as fast moving consumer goods, pharmaceuticals, and tobacco tend to hold up better.^ This means holding high-dividend stocks.
  • Recession Spending and Investing - Business Exchange 14 January 2010 3:03 UTC bx.businessweek.com [Source type: FILTERED WITH BAYES]

^ The good news is the stock market typically turns up about 60% through an economic downturn; the bad news is that it's unclear whether we've reached that point quite yet, and Sonders is understandably worried about the "deleveraging" of both the financial system and consumer's dependence on debt.
  • Recession Now It's Deep and It's Going to Last a Long Time Sonders Says: Tech Ticker, Yahoo! Finance 14 January 2010 3:03 UTC finance.yahoo.com [Source type: General]

^ Additionally, government services tend to step up in times of recession, so your chances of getting and keeping a government job are good.
  • Top 25 Careers to Pursue in a Recession - HR World 14 January 2010 3:03 UTC www.hrworld.com [Source type: News]

[20] .However when the economy starts to recover and the bottom of the market has passed (sometimes identified on charts as a MACD[21]), growth stocks tend to recover faster.^ However, one thing is crystal clear, that whatever route the UK has to take to recover a growth dynamic it is going to be very hard work.

^ After all, women’s job force share may not continue growing once the economy recovers and the job market improves.

^ A simple way to identify growth markets is to look for "nonconsumers" who lack the skills, wealth, access, or ability to consume your existing products or services.
  • Innosight | Innoblog discusses disruption, business model innovation, and strategy 14 January 2010 3:03 UTC www.innosight.com [Source type: General]

.There is significant disagreement about how health care and utilities tend to recover.^ There is significant disagreement about how health care and utilities tend to recover.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Emerging Markets - With the possible exceptions of technology and health care, there are just going to be better opportunities in emerging markets compared with the developed world.
  • http://blogs.reuters.com/great-debate-uk/tag/recession/ 14 January 2010 3:03 UTC blogs.reuters.com [Source type: News]

^ There are a lot of details about this plan that have not been discussed and leave me quite skeptical that it is in any way acceptable to anyone except aging boomers and the insurance industry.” — cmeier The health care compromise “ I have to agree with Mr. Krugman.
  • The Great Recession versus the Great Depression - Paul Krugman Blog - NYTimes.com 14 January 2010 3:03 UTC krugman.blogs.nytimes.com [Source type: General]

[22] Diversifying one's portfolio into international stocks may provide some safety; however, economies that are closely correlated with that of the U.S. may also be affected by a recession in the U.S.[23]
.There is a view termed the halfway rule[24] according to which investors start discounting an economic recovery about halfway through a recession.^ Every economic cycle starts with a boom, then a crisis, a recession, and finally a happy ending .

^ This has caused disagreements about when a recession actually started.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ But eventually, there will be a recovery back into economic growth.
  • recession « Contrarian Investors’ Journal 14 January 2010 3:03 UTC cij.inspiriting.com [Source type: General]

.In the 16 U.S. recessions since 1919, the average length has been 13 months, although the recent recessions have been shorter.^ It means we’re already a year in to the current down cycle, which makes this recession longer than the average post-World War II recession (10 months) and so-far the third worst since 1945 (Nov.
  • Recession Hits One-Year Anniversary - Money Beat 14 January 2010 3:03 UTC blogs.abcnews.com [Source type: General]

^ The postwar average, excluding the 2001 recession, is eleven months.
  • Recession - News - Times Topics - The New York Times 14 January 2010 3:03 UTC topics.nytimes.com [Source type: News]

^ The average recession since 1854 has lasted 17 months, but since the turn of the last century we’ve seen a marked reduction in the length of down cycles.
  • Recession Hits One-Year Anniversary - Money Beat 14 January 2010 3:03 UTC blogs.abcnews.com [Source type: General]

Thus if the 2008 recession followed the average, the downturn in the stock market would have bottomed around November 2008. The actual US stock market bottom of the 2008 recession was in March 2009.

Recession and politics

.Generally an administration gets credit or blame for the state of economy during its time.^ Generally an administration gets credit or blame for the state of economy during its time.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Between the sub-prime mortgage crisis, the credit crunch, the soaring price of oil and the weak dollar, times are tough and getting tougher all the time.
  • GlossyNews.com | Tag Archive | recession 14 January 2010 3:03 UTC glossynews.com [Source type: General]

^ There have been two quarters so far during the recession where the economy has gotten smaller, each time by less than 1 percent.
  • Your 2009 Recession Survival Guide - US News and World Report 14 January 2010 3:03 UTC www.usnews.com [Source type: News]

[25] .This has caused disagreements about when a recession actually started.^ Thus, for example, with the advance 2007:Q1 GDP data just released, we form an inference about whether a recession might have started in 2006:Q4.
  • Econbrowser: Recession probability index rises to 16.9 14 January 2010 3:03 UTC www.econbrowser.com [Source type: FILTERED WITH BAYES]

^ These are, for example, the kinds of things that have caused the actual recession we are in the midst of today.
  • IEA Blog » recession 14 January 2010 3:03 UTC blog.iea.org.uk [Source type: FILTERED WITH BAYES]

^ Instead of writing about what I wish I could do, I’ve actually taken action to start on my dreams.

[26] .In an economic cycle, a downturn can be considered a consequence of an expansion reaching an unsustainable state, and is corrected by a brief decline.^ In an economic cycle, a downturn can be considered a consequence of an expansion reaching an unsustainable state, and is corrected by a brief decline.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ The United States housing market correction (a consequence of United States housing bubble) and subprime mortgage crisis has significantly contributed to a recession.
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ The National Bureau of Economic Research (NBER) is considered the authoritative source in the US that reports the dates of the peaks and troughs that quantify Economic Cycles.
  • Recession 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]
  • U.S. Economic Cycles 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]

.Thus it is not easy to isolate the causes of specific phases of the cycle.^ Thus it is not easy to isolate the causes of specific phases of the cycle.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

.The 1981 recession is thought to have been caused by the tight-money policy adopted by Paul Volcker, chairman of the Federal Reserve Board, before Ronald Reagan took office.^ The 1981 recession is thought to have been caused by the tight-money policy adopted by Paul Volcker , chairman of the Federal Reserve Board, before Ronald Reagan took office.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ The interview with the former Federal Reserve Board chairman appears in the current, Fall 2009, edition of the magazine.
  • The Great Recession 14 January 2010 3:03 UTC thestar.blogs.com [Source type: General]

^ A year ago, when I took office in the midst of the worst recession since the Great Depression, I promised you two things.
  • Economic Recession - News, photos, topics, and quotes 14 January 2010 3:03 UTC www.daylife.com [Source type: FILTERED WITH BAYES]

.Reagan supported that policy.^ Reagan supported that policy.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

.Economist Walter Heller, chairman of the Council of Economic Advisers in the 1960s, said that "I call it a Reagan-Volcker-Carter recession.^ Economist Walter Heller , chairman of the Council of Economic Advisers in the 1960s, said that "I call it a Reagan-Volcker-Carter recession.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ The 1981 recession is thought to have been caused by the tight-money policy adopted by Paul Volcker , chairman of the Federal Reserve Board, before Ronald Reagan took office.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ He said the committee “has not entered the territory” of even tentatively calling a recession because the economic data don’t merit it so far.
  • A Recession Announcement Coming? Probably, But Not Soon - Real Time Economics - WSJ 14 January 2010 3:03 UTC blogs.wsj.com [Source type: News]

[27] .The resulting taming of inflation did, however, set the stage for a robust growth period during Reagan's administration.^ The resulting taming of inflation, did, however, set the stage for a robust growth period during Reagan's administration.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ More fortunes are made during economic downturns than during times of robust growth.

^ I don’t think we will have robust economic growth, as the Obama administration expects.

.Economists usually teach that to some degree recession is unavoidable, and its causes are not well understood.^ This has caused some economists to question whether or not the ...

^ Economists usually teach that to some degree recession is unavoidable, and its causes are not well understood.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Admittedly, many scientists do tend to regard economists and even the field of economics with a certain degree of suspicion, some of which is born out of hubris, and some of which is cultural.
  • The Great Recession versus the Great Depression - Paul Krugman Blog - NYTimes.com 14 January 2010 3:03 UTC krugman.blogs.nytimes.com [Source type: General]

.Consequently, modern government administrations attempt to take steps, also not agreed upon, to soften a recession.^ Consequently, modern government administrations attempt to take steps, also not agreed upon, to soften a recession.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ That market was the NASDAQ. To avoid an imminent recession and possibly the political consequences for the new US government, the US Federal Reserve decided to monetise the problem away.

^ The federal government pays for administrative costs, and in a recession, it pays for the extension of unemployment benefits beyond 26 weeks.
  • Recession // Current 14 January 2010 3:03 UTC current.com [Source type: News]

Impact of recessions

Unemployment

.The full impact of a recession on employment may not be felt for several quarters.^ The 2001 downturn was “one of the most severe recessions in terms of employment,” he said.
  • A Recession Announcement Coming? Probably, But Not Soon - Real Time Economics - WSJ 14 January 2010 3:03 UTC blogs.wsj.com [Source type: News]

^ The bad has to do with the minimizing of the looming recession and its impact on the employment market.
  • A recession probably won't affect your job market | Penelope Trunk's Brazen Careerist 14 January 2010 3:03 UTC blog.penelopetrunk.com [Source type: General]

^ Normally this would precipitate a recession, but with a world economy lathered in government and personal debt the consequences may be more severe.

.Research in Britain shows that low-skilled, low-educated workers and the young are most vulnerable to unemployment in a downturn.^ Now, we see the perfectly logical outcome of wage controls—rising unemployment among the most economically vulnerable.” — Jerry Bowyer .
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

^ While skills are vital, our research shows that the often neglected area of people’s attitude, or mindset, is eve...
  • Economic Recession - News, photos, topics, and quotes 14 January 2010 3:03 UTC www.daylife.com [Source type: FILTERED WITH BAYES]

^ Disadvantaged groups, like youths and immigrants as well as low-skilled and temporary workers, will bear the brunt of the increase…” .
  • IRP Poverty Dispatch » Recession 14 January 2010 3:03 UTC www.irp.wisc.edu [Source type: News]

.After recessions in Britain in the 1980s and 1990s, it took five years for unemployment to fall back to its original levels.^ A year ago, when I took office in the midst of the worst recession since the Great Depression, I promised you two things.
  • Economic Recession - News, photos, topics, and quotes 14 January 2010 3:03 UTC www.daylife.com [Source type: FILTERED WITH BAYES]

^ The downturn seems likely to be worse either the 2001 recession or the 1990-91 recession, he added, but it may not as bad as the back-to-back recessions of the early 1980s.

^ Somehow a headline that says “sales fall 21 percent from year-ago levels” would not sound the same as the headlines that are now running.

[28]

Business

.Productivity tends to fall in the early stages of a recession, then rises again as weaker firms close.^ With consumer confidence plunging , the jobless rate rising and the gross domestic product falling at a rate second only to the decline seen in the 1982 recession, there’s little hope of good economic news anytime soon.

^ Will the so-called recession be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation?
  • Recession Spending and Investing - Business Exchange 14 January 2010 3:03 UTC bx.businessweek.com [Source type: FILTERED WITH BAYES]

^ OPEC Cuts Production of Oil to Provide "Floor" for Prices Amid a U.S. presidential election, a financial crisis and a pending world recession, OPEC is cutting oil production as crude oil prices are falling.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

.The variation in profitability between firms rises sharply.^ Various huge, renowned and profit making banks, firms and businesses, all came to a standstill condition and started going towards the darker path of closure.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ Recession can be associated with many different areas like sharply rising prices, falling prices, declines the employment, investment and overall corporate profits.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

.Recessions have also provided opportunities for anti-competitive mergers, with a negative impact on the wider economy: the suspension of competition policy in the United States in the 1930s may have extended the Great Depression.^ Is this the worst economy since the Great Depression?
  • Recessions and Depressions: News & Videos about Recessions and Depressions - CNN.com 14 January 2010 3:03 UTC topics.cnn.com [Source type: News]

^ In the United States, it has become almost dogma that the recession is the worst since the Great Depression.
  • The Geography of Recession | STRATFOR 14 January 2010 3:03 UTC www.stratfor.com [Source type: Original source]

^ United States recessions .
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

[28]

Social effects

.The living standards of people dependent on wages and salaries are more affected by recessions than those who rely on fixed incomes or welfare benefits.^ Corporations are NOT more important than people.
  • The Democratic Party 14 January 2010 3:03 UTC www.democrats.org [Source type: Original source]

^ The recession has largely affected the life of the people.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ Pat Andriole, executive director of the Branford Counseling Center, confirms current perceptions about the economy: that a whole segment of people who thought they were "safe" are being affected by the recession.

.The loss of a job is known to have a negative impact on the stability of families, and individuals' health and well-being.^ You want to be known as a go-getter who gets the job done well.

^ Now the defaults and foreclosures are being driven by job losses .

^ Glee 3/31/2009 9:11:26 AM Due to the loss of my well-paying job, I am living on 1/3 of what I used to.
  • Is the Recession Making Your Life More Eco-friendly? 14 January 2010 3:03 UTC www.motherearthnews.com [Source type: General]

[28]

History of recessions

Global recessions

.There is no commonly accepted definition of a global recession, although the IMF regards periods when global growth is less than 3% to be global recessions.^ There is really no recession here … .

^ No recession there … .

^ A recession is defined as a period of reduced economic activity, lasting 2 quarters and is noticeable in all economic areas: from GDP growth to retail sales to personal income and...
  • Tag: Recession - Explore content tagged Recession on eHow.com 14 January 2010 3:03 UTC www.ehow.com [Source type: General]

[29] .The IMF estimates that global recessions seem to occur over a cycle lasting between 8 and 10 years.^ The IMF estimates that global recessions seem to occur over a cycle lasting between 8 and 10 years.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ Recession can last up to a year.
  • The American Recession of 2007, 2008 and Beyond - The Politics eZine 14 January 2010 3:03 UTC www.lilith-ezine.com [Source type: News]

^ It means we’re already a year in to the current down cycle, which makes this recession longer than the average post-World War II recession (10 months) and so-far the third worst since 1945 (Nov.
  • Recession Hits One-Year Anniversary - Money Beat 14 January 2010 3:03 UTC blogs.abcnews.com [Source type: General]

.During what the IMF terms the past three global recessions of the last three decades, global per capita output growth was zero or negative.^ During what the IMF terms the past three global recessions of the last three decades, global per capita output growth was zero or negative.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ The major reason for the ADM Buy recommendation is the development of emerging markets.The global recession has weighed on ADM's results, but long-term the company remains well-positioned to capitalize on the development of emerging markets, and population growth, which will increase demand for food.

^ A recession is defined as a period of reduced economic activity, lasting 2 quarters and is noticeable in all economic areas: from GDP growth to retail sales to personal income and...
  • Tag: Recession - Explore content tagged Recession on eHow.com 14 January 2010 3:03 UTC www.ehow.com [Source type: General]

[30]
.Economists at the International Monetary Fund (IMF) state that a global recession would take a slowdown in global growth to three percent or less.^ Economists at the International Monetary Fund (IMF) state that a global recession would take a slowdown in global growth to three percent or less.
  • Recession encyclopedia topics | Reference.com 14 January 2010 3:03 UTC www.reference.com [Source type: FILTERED WITH BAYES]

^ If the recession is nearing a close , as some economists argue , women may have lost the opportunity of taking over a majority of the labor force for at least the time being.

^ Mineral-rich states — such as New Mexico, Alaska, and Montana — saw revenue growth in the beginning of the recession as a result of high oil prices.
  • Recession Continues to Batter State Budgets; State Responses Could Slow Recovery — Center on Budget and Policy Priorities 14 January 2010 3:03 UTC www.cbpp.org [Source type: Original source]

By this measure, four periods since 1985 qualify: 1990–1993, 1998, 2001–2002 and 2008–2009.

United Kingdom recessions

.The most recent recession to affect the United kingdom was the Late-2000s recession.^ You should also note that the decline in unemployment slope after the 2001 recession ended is much less steep than in the previous recessions that were most recent.
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

^ British Prime Minister Gordon Brown acknowledged for the first time Wednesday that the world economic downturn is likely to cause a recession in the United Kingdom .
  • Recessions and Depressions: News & Videos about Recessions and Depressions - CNN.com 14 January 2010 3:03 UTC topics.cnn.com [Source type: News]

^ The most affected sectors of the recession are employment and Gross Domestic Products.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

United States recessions

.According to economists, since 1854, the U.S. has encountered 32 cycles of expansions and contractions, with an average of 17 months of contraction and 38 months of expansion.^ Graphical representation of economic cycles Rather than booms and recessions, it classifies the economy as being in expansion or contraction .
  • Recession 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]
  • U.S. Economic Cycles 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]

^ Booms and Expansions 2 Recessions and Contractions 3 Who's particularly impacted by economic cycles?
  • Recession 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]
  • U.S. Economic Cycles 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]

^ Nine of 50 economists pegged the odds of a contraction over the next 12 months at 50 percent or higher, according to a poll taken from Oct.
  • The Democratic Party 14 January 2010 3:03 UTC www.democrats.org [Source type: Original source]

[8] However, since 1980 there have been only eight periods of negative economic growth over one fiscal quarter or more,[31] and four periods considered recessions:
.For the past three recessions, the NBER decision has approximately conformed with the definition involving two consecutive quarters of decline.^ The historical definition of a recession is when the economy has two consecutive quarters of negative growth.
  • Recession 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]
  • U.S. Economic Cycles 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]

^ As an example, the last recession, in 2001, did not include two consecutive quarters of decline.
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ The committee often waits months to make a decision, to make sure that its decision is consistent with its standard for a recession: a significant, protracted decline in activity that cuts across the economy.

.While the 2001 recession did not involve two consecutive quarters of decline, it was preceded by two quarters of alternating decline and weak growth.^ The historical definition of a recession is when the economy has two consecutive quarters of negative growth.
  • Recession 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]
  • U.S. Economic Cycles 14 January 2010 3:03 UTC www.wikinvest.com [Source type: FILTERED WITH BAYES]

^ As an example, the last recession, in 2001, did not include two consecutive quarters of decline.
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ Although there is a decline in the economic growth even during economic depression, this decrease is much more severe than it is in case of economic recession.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

[31]

Late 2000s recession

.Official economic data shows that a substantial number of nations are in recession as of early 2009. The US entered a recession at the end of 2007,[34] and 2008 saw many other nations follow suit.^ "The economic crisis is causing an instability that can loosen the fragile hold that many developing nations have on law and order which can spill out into the international community."

^ The National Bureau of Economic Research defines economic recession as a significant decline in the economic activity spread across the economy, lasting more than a specified period.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ Edward E. Leamer: “the data through June 2008 do not yet exceed the recession threshold, and will do so only if things get much worse” 8/21/08 - Report from The Conference Board on leading U.S. Economic Indicators for July 2008.
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

United States

.The United States housing market correction (a possible consequence of United States housing bubble) and subprime mortgage crisis has significantly contributed to a recession.^ The United States housing market correction (a consequence of United States housing bubble) and subprime mortgage crisis has significantly contributed to a recession.
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ United States recession .
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ Tags: United States economic recession , United States in recession .
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

.The 2008/2009 recession is seeing private consumption fall for the first time in nearly 20 years.^ Recession on Jun.20, 2009 .
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ I've been reviewing different opportunities for years online and this is one of the first times that I can say that I got more than what I was asking for.

^ At the same time, however, Bell and her team were already seeing the first signs of a talent shortage, particularly among the company’s engineering population.
  • Recession: Handle With Care | workforce.com 14 January 2010 3:03 UTC www.workforce.com [Source type: News]

.This indicates the depth and severity of the current recession.^ With the depth current recession and government policy that is largely hostile to business, I fear US hiring will remain soft.
  • » Recession 14 January 2010 3:03 UTC thirdpipe.com [Source type: News]

^ As we have stated here several times before; the current Chinese political compact between the government and its people is unsustainable and will unravel quickly in the face of economic recession.

.With consumer confidence so low, recovery will take a long time.^ Not surprisingly – with declining income and low confidence – U.S. consumers have become more frugal, pushing the savings rate up to nearly 6 percent in May, up from 0.8 percent in April 2008.
  • http://blogs.reuters.com/great-debate-uk/tag/recession/ 14 January 2010 3:03 UTC blogs.reuters.com [Source type: News]

^ Time is running out to take advantage of some of the government programs set up to help consumers during the economic meltdown.
  • Recession - Information, News and Pictures - WSJ.com 14 January 2010 3:03 UTC topics.wsj.com [Source type: News]

^ Ongoing job losses pose a severe threat to the nascent U.S. recovery because they weaken consumers confidence and their ability to spend.
  • http://blogs.reuters.com/great-debate-uk/tag/recession/ 14 January 2010 3:03 UTC blogs.reuters.com [Source type: News]

.Consumers in the U.S. have been hard hit by the current recession, with the value of their houses dropping and their pension savings decimated on the stock market.^ A recession is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market.

^ The United States housing market correction (a consequence of United States housing bubble) and subprime mortgage crisis has significantly contributed to a recession.
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ With the current recession pushing local and national unemployment levels to new highs, it's hard to take more trivial casualties of the recession very seriously.
  • recession coverage by Chicagoist 14 January 2010 3:03 UTC chicagoist.com [Source type: General]

.Not only have consumers watched their wealth being eroded – they are now fearing for their jobs as unemployment rises.^ Now, we see the perfectly logical outcome of wage controls—rising unemployment among the most economically vulnerable.” — Jerry Bowyer .
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

^ The Department of Labor released jobs data for November and it turns out the country "only" lost 11,000 jobs last month, bringing unemployment to 10%, after being at 10.2% for October .
  • recession coverage by Gothamist 14 January 2010 3:03 UTC gothamist.com [Source type: General]

^ Michigan's financial state By Sandra Gallop on Sep 28, 2007 8:58:26 AM 5 months later we have watched Michigans unemployment and forclosures rise.
  • ‘One-state recession’ hampers Michigan 14 January 2010 3:03 UTC www.stateline.org [Source type: News]

[35]
.U.S. employers shed 63,000 jobs in February 2008,[36] the most in five years.^ U.S. employers shed 63,000 jobs in February 2008, the most in five years.
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ And just think - even if unemployment rises to 8% next year, that means about 90% of the workforce still have jobs, and most of those jobs are fairly secure.

^ By Larissa Tolan on Mar 25, 2008 12:30:36 PM I started a little pet store in Hastings, MI four years ago.
  • ‘One-state recession’ hampers Michigan 14 January 2010 3:03 UTC www.stateline.org [Source type: News]

.Former Federal Reserve chairman Alan Greenspan said on April 6, 2008 that "There is more than a 50 percent chance the United States could go into recession."^ More than two-thirds of those polled said the chance of recession was at least 25 percent.
  • The Democratic Party 14 January 2010 3:03 UTC www.democrats.org [Source type: Original source]

^ Greenspan: Us 'emerging From Recession' The US is emerging from recession but economic recovery is expected to be modest, the Federal Reserve Board chairman, Alan Greenspan, said today.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

^ Navigating the Economic Recession of 2008 Article on the prospect of a United States economic recession in 2008.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

[37] .On October 1, the Bureau of Economic Analysis reported that an additional 156,000 jobs had been lost in September.^ US GDP grew at an annualised rate of 3.5 per cent in the third quarter of 2009 according to the first estimate from the Bureau of Economic Analysis.
  • FT Alphaville » Recession 14 January 2010 3:03 UTC ftalphaville.ft.com [Source type: General]

^ The Department of Labor released jobs data for November and it turns out the country "only" lost 11,000 jobs last month, bringing unemployment to 10%, after being at 10.2% for October .
  • recession coverage by Gothamist 14 January 2010 3:03 UTC gothamist.com [Source type: General]

^ Jobs are being lost by the tens of thousands, over 500,000 jobs lost in the US alone last month.
  • recession « Social Networks for Everyone!! Blog 14 January 2010 3:03 UTC socialshakers.com [Source type: General]

.On April 29, 2008, nine US states were declared by Moody's to be in a recession.^ This is how it ended between 1932 and 1934, when half the US states declared moratoria or “Farm Holidays”.

^ Navigating the Economic Recession of 2008 Article on the prospect of a United States economic recession in 2008.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

^ If the Chinese economy collapses as a result of a massive US induced global recession it may not survive in its current form or as a unified state.

.In November 2008, employers eliminated 533,000 jobs, the largest single month loss in 34 years.^ U.S. employers shed 63,000 jobs in February 2008, the most in five years.
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]
  • The Recession : Pictures, Videos, Breaking News 14 January 2010 3:03 UTC www.huffingtonpost.com [Source type: General]

^ I now live on about $10,000 a year and found saving $300 a month isn’t a problem.
  • Is the Recession Making Your Life More Eco-friendly? 14 January 2010 3:03 UTC www.motherearthnews.com [Source type: General]

^ The Department of Labor released jobs data for November and it turns out the country "only" lost 11,000 jobs last month, bringing unemployment to 10%, after being at 10.2% for October .
  • recession coverage by Gothamist 14 January 2010 3:03 UTC gothamist.com [Source type: General]

[38] .For 2008, an estimated 2.6 million U.S. jobs were eliminated.^ In May 2008, Christie's offered 2,400 lots over six days in Hong Kong, estimated $219 million and took in a record $310 million.
  • Recession — Luxist 14 January 2010 3:03 UTC www.luxist.com [Source type: News]

[39]
.The unemployment rate of US grew to 8.5 percent in March 2009, and there have been 5.1 million job losses till March 2009 since the recession began in December 2007.[40] That is about five million more people unemployed compared to just a year ago.^ More than 7 million jobs have vanished.
  • Recession // Current 14 January 2010 3:03 UTC current.com [Source type: News]

^ With 1.6 million jobs lost over the last two years, the construction sector has accounted for more than a fifth of the jobs lost since the recession began.
  • Recession // Current 14 January 2010 3:03 UTC current.com [Source type: News]

^ MORE ABOUT: crime • America • recession • what recession?
  • recession – News Stories About recession - Page 1 | Newser 14 January 2010 3:03 UTC www.newser.com [Source type: News]

[41] .This has become largest annual jump in the number of unemployed persons since the 1940’s.^ The number of unemployed persons (14.7 million) was little changed.
  • Posts tagged Recession at The Emurse.com Blog 14 January 2010 3:03 UTC blog.emurse.com [Source type: General]

[42]
.Although the US Economy grew in the first quarter by 1%,[43][44] by June 2008 some analysts stated that due to a protracted credit crisis and "rampant inflation in commodities such as oil, food and steel", the country was nonetheless in a recession.^ Mortgages - Some Mortgage Lenders Limited on Credit They Can Extend - Banking Blogs, Expert Advice on Goldparked.com Says: June 6th, 2008 at 11:27 pm […] there is no way of telling whether a recession has occurred until after the fact, some are already saying that our economy is in a recession.
  • Tips To Help You Through the Recession - Mortgage Rate News 14 January 2010 3:03 UTC www.banks.com [Source type: General]

^ Economy: Eurozone Teeters on Brink of Recession After Output Drops for the First Time Eurostat says GDP in the 15 eurozone countries contracted by 0.2% in the second quarter of 2008 Owning An Online Business Is The Best Way To Beat Recession Online business opportunity provides the best platform to start your own business.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

^ US Economic Crisis: Impact on Automobile Industry Even as the U.S. economy perforates slowly, the impact is most reflected on the automobile industry.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

[45] The third quarter of 2008 brought on a GDP retraction of 0.5%[46] the biggest decline since 2001. The 6.4% decline in spending during Q3 on non-durable goods, like clothing and food, was the largest since 1950.[47]
.A Nov 17, 2008 report from the Federal Reserve Bank of Philadelphia based on the survey of 51 forecasters, suggested that the recession started in April 2008 and will last 14 months.^ As Robert already knows, the only recession I've had is my boot hard drive packing up on me (2nd one in the last 12 months!

^ That market was the NASDAQ. To avoid an imminent recession and possibly the political consequences for the new US government, the US Federal Reserve decided to monetise the problem away.

^ Federal Reserve fiat money -vs- Lawful Money [ Report this comment ] Posted by: Chaos Inc.
  • Experts Warn of Recession -- Duh, We're Living in One Already | | AlterNet 14 January 2010 3:03 UTC www.alternet.org [Source type: General]

[48] .They project real GDP declining at an annual rate of 2.9% in the fourth quarter and 1.1% in the first quarter of 2009. These forecasts represent significant downward revisions from the forecasts of three months ago.^ From the fourth quarter of 2007 through the first quarter of 2009, we had been told the G.D.P. fell at an annual rate of 2.8 percent.

^ They think that the current quarter will be down sharply, at a 3 percent annual rate, and that there will be a lesser decline in the first quarter of 2009.

^ Quoting the previous link (as regards revisions to previous data): “The relatively small revisions to the annual estimates reflect partly offsetting revisions to the quarters within a year.
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

.A December 1, 2008, report from the National Bureau of Economic Research stated that the U.S. has been in a recession since December 2007 (when economic activity peaked), based on a number of measures including job losses, declines in personal income, and declines in real GDP.[49] By July of 2009 a growing number of economists believed that the recession may have ended.^ Navigating the Economic Recession of 2008 Article on the prospect of a United States economic recession in 2008.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

^ This series reached a peak in December 2007 and has declined every month since then.
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

^ Determination of the December 2007 Peak in Economic Activity .
  • Business Cycle Dating Committee, National Bureau of Economic Research 14 January 2010 3:03 UTC wwwdev.nber.org [Source type: FILTERED WITH BAYES]

[50][51] .The National Bureau of Economic Research will not make this official determination for some time.^ This article is from the National Bureau of Economic Research and the study is done on Canadian students.

^ The National Bureau of Economic Research defines economic recession as a significant decline in the economic activity spread across the economy, lasting more than a specified period.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ "'It will be difficult to have a robust recovery while housing and commercial real estate are depressed,' said Martin Feldstein, a Harvard University professor and former head of the National Bureau of Economic Research."
  • Recession // Current 14 January 2010 3:03 UTC current.com [Source type: News]

.In the 2001 recession, for example, the recession ended in November 2001, but it was not until July 2003 that the NBER announced its official determination.^ Tags: 2001 2003 recession , recession 2001 , Recession 2002 .
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ An example of such a recession is the one in 2001.
  • recession « Contrarian Investors’ Journal 14 January 2010 3:03 UTC cij.inspiriting.com [Source type: General]

^ For example, even though the 1990-91 recession ended in March 1991, the NBER business cycle dating committee did not officially announce the recession’s end until 21 months later in December 1992.

[52]

Other countries

.A few other countries have seen the rate of growth of GDP decrease, generally attributed to reduced liquidity, sector price inflation in food and energy, and the U.S. slowdown.^ Energy and food prices are soaring.

^ You are also right that some of the current "alternative energy projects" have had some extremely deleterious effects on this economy, but again, it's NOT ADM, it's the use of corn-based ethanol that has risen the price of so many other food stuffs for growers, producers, etc.

^ The GDP decreased from 1990 to 1991 by 1% and the rate of unemployment rose above 10%.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

.These include the United Kingdom, Ireland, Canada, Japan, China, India, New Zealand and many countries within the EEA.^ While partially true, one must also realize that big players like China, Japan, Saudi Arabia....and a host of other countries, are now thinking of the future.
  • Surviving the 2008 recession 14 January 2010 3:03 UTC scobleizer.com [Source type: General]

^ After the gulf war, they found a chance to announce that the country is facing the symptoms of recession due to the gulf war and many manufacturing units were benefitted from this to shut down directly.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

^ The United States economic recession is not a new thing for the country.
  • Recent Recession 14 January 2010 3:03 UTC recentrecession.com [Source type: FILTERED WITH BAYES]

.In some, the recession has already been confirmed by experts, while others are still waiting for the fourth quarter GDP growth data to show two consecutive quarters of negative growth.^ The recession of 2001 was the only recession since WWII which did not include at LEAST two consecutive quarters of negative GDP growth.
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

^ NBER is right to say that a recession is just negative GDP growth.
  • SBVOR: The Recession of 2008 That Wasn't? 14 January 2010 3:03 UTC sbvor.blogspot.com [Source type: General]

^ Economists may complain that this is only because the public is ignorant of the technical -- or at least the newspapers' standard -- definition of a recession, which specifies that there must be at least two consecutive quarters of negative growth in the GDP. But most of the public employs the more colloquial definition of a recession, which is hard times.
  • Experts Warn of Recession -- Duh, We're Living in One Already | | AlterNet 14 January 2010 3:03 UTC www.alternet.org [Source type: General]

.India along with China is experiencing an economic slowdown but not a recession.^ China and Economic recession .
  • Recession | Business Blog 14 January 2010 3:03 UTC ayushveda.com [Source type: News]

^ Oil fell on Monday and ended at a 21-month low as fears over the global economic slowdown accelerated on news that Japan officially fell into a recession.
  • Recessions and Depressions: News & Videos about Recessions and Depressions - CNN.com 14 January 2010 3:03 UTC topics.cnn.com [Source type: News]

^ Everyone knows that recession is a general slowdown in economic activity in such a country over a sustained period of time, or a business cycle contraction.
  • Recession Dating | Mother Jones 14 January 2010 3:03 UTC motherjones.com [Source type: General]

.Also Africa and South Africa are experiencing economic slowdown and global outbreak.^ Oil prices fell Thursday as the global economic slowdown accelerated fears that demand for energy will continue to slide.
  • Recessions and Depressions: News & Videos about Recessions and Depressions - CNN.com 14 January 2010 3:03 UTC topics.cnn.com [Source type: News]

^ Oil fell on Monday and ended at a 21-month low as fears over the global economic slowdown accelerated on news that Japan officially fell into a recession.
  • Recessions and Depressions: News & Videos about Recessions and Depressions - CNN.com 14 January 2010 3:03 UTC topics.cnn.com [Source type: News]

^ But "The economic recovery in advanced nations will still be 'anemic,' Roubini...said via satellite to a conference in Cape Town, South Africa.
  • recession coverage by Gothamist 14 January 2010 3:03 UTC gothamist.com [Source type: General]

.Australia avoided a technical recession in 2009, and had positive growth against the overall global economic downturn.^ Comments : 5 Comments » Tags: economic growth , global economy , Marx , Rob Killick , Robert Skidelsky Categories : Economy .

^ Although there is a decline in the economic growth even during economic depression, this decrease is much more severe than it is in case of economic recession.
  • Economic Recession - Current Financial Crisis and Economic Depression 14 January 2010 3:03 UTC www.buzzle.com [Source type: News]

^ See more stories tagged with: economy , depression , growth , recession , productivity , economic indicators , gdp .
  • Experts Warn of Recession -- Duh, We're Living in One Already | | AlterNet 14 January 2010 3:03 UTC www.alternet.org [Source type: General]

See also

Causes of recessions

Effects of recessions

References

  1. ^ "Recession". Merriam-Webster Online Dictionary. http://www.merriam-webster.com/dictionary/recession. Retrieved 19 November 2008. 
  2. ^ "Recession definition". Encarta World English Dictionary [North American Edition]. Microsoft Corporation. 2007. http://encarta.msn.com/encnet/features/dictionary/DictionaryResults.aspx?refid=1861699686. Retrieved 19 November 2008. 
  3. ^ Shiskin, Julius (1974-12-01), "The Changing Business Cycle", New York Times: 222 
  4. ^ Achuthan, Lakshman; Banerji, Anirvan (2008-05-07). "The risk of redefining recession". CNN. http://money.cnn.com/2008/05/05/news/economy/recession/index.htm. 
  5. ^ "Financial Check Glossary". Bloomberg.com. 2000. http://www.bloomberg.com/invest//glossary/bfglosr.htm. Retrieved 19 November 2008. 
  6. ^ "Recession definition". BusinessDictionary.com. 2007–2008. http://www.businessdictionary.com/definition/recession.html. Retrieved 19 November 2008. 
  7. ^ a b http://clubtroppo.com.au/2008/11/23/what-is-the-difference-between-a-recession-and-a-depression/ "What is the difference between a recession and a depression?" Saul Eslake Nov 2008
  8. ^ a b "Business Cycle Expansions and Contractions". National Bureau of Economic Research. http://www.nber.org/cycles.html. Retrieved 19 November 2008. 
  9. ^ http://www.adb.org/Documents/Books/Key_Indicators/2001/default.asp
  10. ^ A Estrella, FS Mishkin. "Predicting U.S. Recessions: Financial Variables as Leading Indicators". MIT Press. http://www.mitpressjournals.org/doi/pdfplus/10.1162/003465398557320?cookieSet=1. 
  11. ^ Grading Bonds on Inverted Curve By Michael Hudson
  12. ^ Wright, Jonathan H., The Yield Curve and Predicting Recessions (March 2006). FEDs Working Paper No. 2006-7.
  13. ^ Signal or Noise? Implications of the Term Premium for Recession Forecasting
  14. ^ Labor Model Predicts Lower Recession Odds
  15. ^ Leading Economic Indicators Suggest U.S. In Recession January 21, 2008
  16. ^ Siegel, Jeremy J. (2002). Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies, 3rd, New York: McGraw-Hill, 388. ISBN 9780071370486
  17. ^ "From the subprime to the terrigenous: Recession begins at home". Land Values Research Group. June 2, 2009. http://lvrg.org.au/blog/2009/06/from-subprime-to-terrigenous-recession.html. "A downturn in the property market, especially in turnover (sales) of properties, is a leading indicator of recession, with a lead time of up to 9 quarters..." 
  18. ^ Robert J. Shiller. "Why Home Prices May Keep Falling". New York Times, June 6, 2009. http://www.nytimes.com/2009/06/07/business/economy/07view.html. 
  19. ^ Recession Predictions and Investment Decisions by Allan Sloan, December 11, 2007
  20. ^ Recession? Where to put your money now. Shawn Tully, February 6 2008
  21. ^ crossover
  22. ^ Rethinking Recession-Proof Stocks Joshua Lipton 01.28.08
  23. ^ Recession Stock Picks Douglas Cohen, January 18, 2008
  24. ^ http://online.wsj.com/article/SB122635740974515379.html NOVEMBER 11, 2008 Recession Puts Halfway Rule to the Test, By DAVID GAFFEN
  25. ^ Economy puts Republicans at risk 29 January 2008
  26. ^ The Bush Recession Prepared by: Democrat staff, Senate Budget Committee,July 31, 2003
  27. ^ Ready for a Real Downer Monday, Nov. 23, 1981 By GEORGE J. CHURCH
  28. ^ a b c Vaitilingam, Romesh (17 September 2009). "Recession Britain: New ESRC report on the impact of recession on people's jobs, businesses and daily lives". Economic and Social Research Council. http://www.esrc.ac.uk/ESRCInfoCentre/PO/releases/2009/september/recessionbritain.aspx. Retrieved 22 January 2010. 
  29. ^ The Recession that Almost Was. Kenneth Rogoff, International Monetary Fund, Financial Times, April 5, 2002
  30. ^ Global Recession Risk Grows as U.S. `Damage' Spreads
  31. ^ a b http://www.bea.gov/national/xls/gdpchg.xls
  32. ^ It's official: Recession since Dec. '07
  33. ^ "BBC News - Business - US economy out of recession". BBC. 29 October 2009. http://news.bbc.co.uk/1/hi/business/8332773.stm. Retrieved 6 February 2010. 
  34. ^ "Determination of the December 2007 Peak in Economic Activity.". NBER Business Cycle Dating Committee. 2008-12-11. http://www.nber.org/cycles/dec2008.pdf. Retrieved 2009-04-26. 
  35. ^ Economic Crisis: When will it End? IBISWorld Recession Briefing " Dr. Richard J. Buczynski and Michael Bright, IBISWorld, January 2009
  36. ^ [1] Job Loss Predictions
  37. ^ Recession unlikely if US economy gets through next two crucial months
  38. ^ http://www.nytimes.com/2008/12/06/business/economy/06jobs.html
  39. ^ http://www.statesmanjournal.com/article/20090110/NEWS/901100332
  40. ^ http://www.wealthalchemist.com/Blog/2009/04/reality-check-job-loss-2009-control
  41. ^ http://www.bls.gov/news.release/empsit.nr0.htm
  42. ^ http://money.cnn.com/2009/01/09/news/economy/jobs_december/index.htm
  43. ^ Real GDP First-Quarter 2008 Preliminary Estimate :: Brent Meyer :: Economic Trends :: 06.03.08 :: Federal Reserve Bank of Cleveland
  44. ^ Fragile economy improves but not out of woods yet: Financial News - Yahoo! Finance
  45. ^ Why it's worse than you think, 16 June 2008, Newsweek.
  46. ^ GROSS DOMESTIC PRODUCT: THIRD QUARTER 2008
  47. ^ U.S. Economy Contracts Most Since the 2001 Recession
  48. ^ http://www.philadelphiafed.org/research-and-data/real-time-center/survey-of-professional-forecasters/2008/survq408.cfm?loc=interstitialskip Fourth Quarter 2008 Survey of Professional Forecasters Release Date: November 17, 2008
  49. ^ http://www.usatoday.com/money/economy/2008-12-01-recession-nber-statement_N.htm Text of the NBER's statement on the recession
  50. ^ Daniel Gross, The Recession Is... Over?, Newsweek, July 14, 2009.
  51. ^ V.I. Keilis-Borok et al., Pattern of Macroeconomic Indicators Preceding the End of an American Economic Recession. Journal of Pattern Recognition Research, JPRR Vol.3 (1) 2008.
  52. ^ 2003 Business Cycle Dating Committee, July 2003, National Bureau of Economic Research

External links


Citable sentences

Up to date as of December 30, 2010

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