Word: depressionitis
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At this point, none of the large global car companies have been able to avoid red ink. While the numbers may be worse as GM, Ford, and Chrysler. the viability of more stable firms with better balance sheets could be threatened if the depression in car sales stretches to the...
A number of seemingly unrelated pieces of news in the last day showed that several high profile people and organizations are at least considering the idea that the global economy could slip into a depression.
In remarks made in New York, GE (GE) CEO Jeff Immelt said that the economy was in as bad a shape as at any time since the 1974 recession. If it should get worse, he remarked, "Once you break through '74-'75, you don't stop 'til you get to...
That lag means we've likely got a ways to go before unemployment peaks. GDP during the 1981-82 recession, arguably the worst since the Great Depression, started rebounding in the second quarter of 1982. Yet unemployment didn't peak until the very end of the year. When it did...
But calls for labor protection pose a problem for European leaders: they run counter to E.U. rules that ensure the free flow of goods, services and workers. Worse yet, notes U.K. Business Secretary Peter Mandelson, such moves risk beginning a chain reaction of protectionism that could make the economic slowdown...