Word: deeps
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...Except for China and India, every major national economy in the world now readily admits that it is in the midst of GDP contraction. The resulting slowdown in global trade will certainly affect China seriously, as well, and sooner than most analysts think. A deep recession in China may be only a quarter away...
...York Times Company have any choice over who put money into the firm? Probably very little. The newspaper industry is viewed as a poor investment. Several newspaper chains are already in the process of liquidation, particularly Journal Register and Gatehouse. The third largest newspaper company, McClatchy (MNI) is in deep trouble. A number of the nation's largest dailies, including The Rocky Mountain News, are for sale and some will be closed if they do not find buyers...
...That we are in the midst of crisis is now well understood," he said, and yet he reminded us how deep it was, not only with war and loss and economic decline, but with doubt and dread and a "nagging fear that America's decline is inevitable and that the next generation must lower its sights...
...importance of honesty: "The new administration should respect the profound importance of the government's willingness to admit to the public when it has made a mistake, even at the risk of deep embarrassment or legal liability. Such openness is essential to democracy and the American people's ability to check their representatives through elections...
...banking industry may have already received $55 billion in government money, but nervous British lenders are simply not lending enough. The result: British GDP will tumble 2.7% this year, Ernst & Young forecast on Monday, the biggest drop since 1946. "Without additional government intervention," it added, "a deep recession could evolve into a depression...