Word: downturns
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Calling the current economic downturn the “worst financial crisis since the Great Depression,” Jeffrey A. Frankel, a Kennedy School professor in capital formation and growth, warned against a potential long-term depression, such as the one that Japan experienced in the 1990s...
...Depression 2.0 Can Still Be Avoided At the moment, a reworked bailout deal seems likely to pass. But the world may still be heading for a severe downturn. Interbank lending remains stubbornly frozen, despite the Fed's liquidity fire hose. With WaMu and Wachovia wiped out, the stampede out of bank stocks and bonds will surely claim new victims. As the recession bites, Main Street firms will start going bust too. And the impact on the $62 trillion market for credit-default swaps could be explosive...
...Asia is somewhat better protected than other parts of the world against recession. For one thing, most Asian governments are in sound financial condition and can prime their economic pumps almost at will, says Song Seng Wun, regional economist at CIMB-GK Research in Singapore. "They all face the downturn with a few more bullets in their pocket than they had in the past," he says. The high growth rates of the past several years provide an additional buffer. With the exception of slow-growing Japan, which may already be in a recession, Asian countries will likely account...
...general, Colorado and its high-tech, adventure-travel economic base are somewhat insulated from the kinds of industrial shifts that have walloped Rust Belt states. But the exodus of wealth from Arapahoe has made it more vulnerable to economic downturn. In 2006 the county's foreclosure rate was five times the national average, and it's still one of the highest in the state. "When a flattening economy like we're experiencing now comes along," says Ritter, "they're going to be hit harder...
...recent turmoil and have shown their health by buying up the dismembered parts of other firms. If these three remain strong in the coming years (all, including Citi, remain well-capitalized) and businesses continue to have the need for management consultants (who have been affected little by the downturn), it’s not clear at first blush that the recent downturn is anything more than a small, sealable crack in Harvard’s pipeline to Wall Street...