Word: recessional
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For many, this recession is creating a new math of debt management.
"This is a fundamental change that has occurred in this recession," says Keith Leggett, a senior economist at the American Bankers Association (ABA). "It will have a lasting effect on who is able to get a mortgage in this country." (See how to plan for retirement at any age.)
The past couple of years haven't been kind to the European Union: it's been battered by the recession, buffeted by the Greek debt crisis and bypassed by a host of dynamic, emerging nations. The E.U. is desperate for a magic potion to revitalize its creaking economy, but it...
To a certain extent, mounting sovereign debt is a natural outcome of the recent recession. As in any downturn, tax revenues shrank but government spending increased to stimulate sagging economies. The result: budget deficits and more borrowing. Expensive banking-sector bailouts made the burden even heavier. That's not automatically...
“Even though there is a deep recession and a significant amount of unemployment, people are drinking more,” Barreira said. “The alcohol business is booming, especially the cheaper liquors.”