Word: downturns
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...bailout plans just six weeks ago. "A general decrease in value-added tax is perhaps the answer for some countries, but for Germany and France it is not," said German Chancellor Angela Merkel, following a meeting with French President Nicolas Sarkozy on a common European response to the economic downturn. Asked Sarkozy: "Should we use up our available room for maneuver on reducing prices when prices are already falling...
...wake of the economic downturn, several universities in the Boston area are reevaluating their budgets, looking specifically at financial aid, construction projects, and employment. On November 10, Harvard University President Drew G. Faust emailed a letter to the faculty, students, and staff to discuss the “global economic crisis and its implications for us at Harvard...
...deterioration of the global economy in the wake of the ongoing U.S. housing bust and subsequent credit crunch is accelerating at a frightening pace. In the U.S., nothing captures the concussive force of the downturn better than the Consumer Price Index released Wednesday, which showed prices falling 1% in October after being flat in September. Suddenly, the prospect of outright deflation in the U.S. - and all the risks that entails - is a clear and present danger. "With the unemployment lines growing ever longer, there is a genuine risk that the U.S. economy could fall into a corrosive deflationary phase," says...
...ferocity of the downturn under way, and the downward pressure it is putting on prices, cannot be underestimated, argues Shanghai-based independent economist Andy Xie. "The world doesn't need to just throw the kitchen sink at this to avoid a disastrous deflation, it needs to throw the bathroom sink, and the garage sink, and any other sink it can find." And it needs to hurry...
...know what leading indicators look like going into a depression," says Achuthan - ECRI has a monthly index that goes back to 1919, a period covering not just the Great Depression of the 1930s but also a severe if shorter downturn in 1920 and 1921. "The magnitude of decline this index shows at the onset of a depression is materially worse than those today...