Word: downturn
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Global Crisis What made America's recklessness truly dangerous is that we exported it. A few months ago, some talked about decoupling - that Europe would carry on even as the U.S. suffered a downturn. I always thought that decoupling was a myth, and events have proven that right. Thanks to globalization, Wall Street was able to sell off its toxic mortgages around the world. It appears that about half the toxic mortgages were exported. Had they not been, the U.S. would be in even worse shape. Moreover, even as our economy went into a slowdown, exports kept the U.S. going...
...finance and banking sector from collapsing - worries temporarily allayed by rescue plans announced over the weekend in Washington and Paris, and detailed in trillion-dollar-terms Monday. But the confidence those measures inspired in global markets has given way to more classic concerns among traders of a looming economic downturn - or quite probably recession - undermining the business activity and results of traded companies. That souring of spirits was evidenced Wednesday with indices sliding across Asia and Europe, and Wall Street following suit with...
...everyone is so lucky. Recent industry research shows that falling purchasing power and consumer fear of a looming economic downturn have caused spending in France's cafés and restaurants to slump around 20% this year. Nearly 3,000 of the nation's restaurants closed down or went bankrupt in the first half of 2008 alone. That wave of failure may well rise as newcomers to the sector who relied on credit to get started find themselves stretched to make their payments as revenues slump. "If I were 30, starting out with loans to reimburse...
...dent China's economy as well as that of any that relies on exports. But the free-market autocrats stand in far better shape than the rest of the world. With their massive cash reserves, current-account surpluses and, often, capital controls, countries like China can better weather a downturn (China probably will still grow by 9% this year). And with no pesky U.S.-style congress to stand in their way, they don't have to worry about anyone vetoing their plans to stabilize their economies...
...home, agricultural employment today, at less than 2% of the labor force, is markedly smaller than what it was, and though sectors like the car and financial-services industries have been hit hard by the current downturn, none is nearly as sick as agriculture was throughout the 1920s. And for all the current ills of megabanks like Washington Mutual and Wachovia, the national banking system still enjoys a measure of stability far greater than in the 1930s--or even the '20s. The kinds of "runs" on savings institutions that we watch Jimmy Stewart battle every Christmas season...