EASTER SUNDAY: Resurrection from the subprime crisis?
Obviously, a long way off.
Economic indicators point to a slowdown for the fifth consecutive month: manufacturing & services slowing, companies cutting jobs accompanied by first time claims for jobless benefits increasing, continuous deterioration of the housing market, stock prices down, etc.
Technically, an economy is in recession if indicators drop for 2 consecutive quarters.
Whether the US is in actual recession or not, consumers feel it is. Consumers, even those with comfortable discretionary disposable incomes, are behaving as if recession has already occured.
The more relevant question is: Is the present economic situation leading to an economic depression, and eventual economic collapse?
Images from Microsoft Clipart
Tags: economic collapse, economic depression, economic indicators, recessionRelated Stories
POSTED IN: Accounting Concepts, Accounting for NonAccountants, Random Thoughts on Accounting
1 opinion for EASTER SUNDAY: Resurrection from the subprime crisis?
EASTER SUNDAY: Resurrection from the subprime crisis? at Sub Prime on The Finance World For News and Information Around The World On Finance
Mar 23, 2008 at 4:48 pm
[…] EASTER SUNDAY: Resurrection from the subprime crisis? Obviously, a long way off. Economic indicators point to a slowdown for the fifth consecutive month: manufacturing & services slowing, companies cutting jobs accompanied by first time claims for jobless benefits increasing, … […]
Have an opinion? Leave a comment: