I was readding today that Greenspan warns “US economy may fall into recession later this year.”.What does that mean for the general population and how will this affect us?
Yes, I was reading today that was typo.
What happens when the economy goes in to recession?
Mon, Mar 8, 2010
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March 8th, 2010 at 11:52 am
don know
looks like u can forget bout the supermarket n get some rambo arrrows to hurt rabbits for your din din
March 8th, 2010 at 12:50 pm
Economy slows down significantly, people lose their jobs, spendable income falls. . . People with a lot of money can make even more, as prices of real estate fall. . . Foreclosures, bankruptcies raise. . . Not good generally. .
March 8th, 2010 at 12:53 pm
This is part of the overall business cycle. After a period of growth, for various reasons, the economy slows down and can even contract (GDP gets smaller). This is referred to as a recession.
The overall effects to regular people:
Job loss: companies sell less products so they make their workforce smaller by “downsizing” people.
Reduced spending cash: Hourly workers work fewer hours or no overtime thus leaving them less money to spend. Oddly, this only makes the recession deeper as their lack of spending causes more businesses to cut back as well.
March 8th, 2010 at 1:05 pm
the wealthy remain wealthy, and the rest of us suffer as always.
March 8th, 2010 at 1:48 pm
Jimmy Carter gets re-elected to president.
You were READING today? Next time try reading a spelling book.