Word: slump
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Dates: during 2000-2009
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...1990s. Indeed, New York Federal Reserve governor and vice chairman of the Federal Open Market Committee Timothy Geithner was Treasury attaché in the Tokyo embassy for the first half of that decade. That's when a widespread banking crisis led to a credit crunch, an economic slump and eventually interest rates that were lowered to zero by the Bank of Japan. Even so, Japan's banks, which were in the process of repairing their balance sheets, were extremely reluctant to lend. Thus, even though interest rates were low, the economy weakened. Prices for pretty much everything declined, following...
...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...
...TIME: Do you see any trends that are so strong they could lead us out of the current economic slump...
...Unlike many athletes, it is quite obvious that Richardson has yet to suffer from a sophomore slump. Yet, while the number of accolades increases by each season, Richardson realizes that she still has quite a long way to go, in terms of polishing her skills as a runner...
Farley says no one in the business knows just how deep the slump will go or how long it will last. "With all the merchandising going on, the true test will come in the first quarter of next year," says Farley. Farley adds that carmakers are seeing stress even among what has been the industry's most reliable - though low-profit - customers over the years: "We are seeing quite a bit of capital stress on our rental partners...