Word: downturned
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...knows how long the slump will last or how it will play out. There are plenty of analogies to describe the possible shape of the U.S. downturn if you plotted GDP growth on a graph: V (short and shallow); W (double dip with a positive blip in the middle as a result of fiscal stimulus programs); L (a protracted, Japan-like stagnation); saucer (stagnation with a very weak recovery). A V-shaped recession now seems highly unlikely. The U.S. housing sector continues to deteriorate, eroding consumer confidence and wealth. Private investment is in free fall, and personal consumption (which accounts...
...This dark outlook augurs a U-shaped recession. The downturn, which began in the fourth quarter of 2007, will be longer than the usual 18 months. The recovery will probably be anemic and for the next few years the U.S. economy is likely to grow below potential. That's the best-case scenario. It suggests that we are many months, and perhaps thousands of Dow index points, from a market bottom...
...misery is only just beginning. The former Soviet Baltic republics of Estonia, Latvia and Lithuania had the highest growth rates in Europe until recently. But, hit by the global credit crunch and economic downturn, the Baltics are now leading Europe into recession. By some estimates, Estonia's economy may already be shrinking. "There's an Estonian saying: Every party ends in tears," says Maris Lauri, an economist at Hansabank, a subsidiary of Sweden's Swedbank...
...have otherwise gone,” he says. “Back in 1930, there was no television. There was no DVD, no cell phone with webisodes, no iPod...Movies are just one of the things that are out there, and they are not going to resist this downturn. They’re going to suffer just like anything else...
...Grantmakers in Washington. Growth has continued since then: giving circles have donated $100 million over the past four years. And the ragged economy may be accelerating the trend. In Cadillac, Mich., Laurie Melstrom formed a giving circle in early October--just as the stock market was swooning. "This economic downturn has a lot of people breaking out into a sweat," says the 54-year-old homemaker. "Yet everyone said, 'Count me in.'" Individually, the group's 10 or 12 prospective members can't make much difference, but together, she says, "we'll be able to make the kind of donation...