Word: slumps
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...recession. If it should get worse, he remarked, "Once you break through '74-'75, you don't stop 'til you get to 1929." At almost the same hour, Bill Gross, the undisputed king of the fixed income world and chief of investments at Pimco stated "the U.S. may slump into a 'mini depression' unless policy makers spend trillions of dollars to spur growth." He did not make the distinction between a "mini depression" and one of normal size but his comments were, nonetheless, alarming...
Just weeks after hailing Obama's election, E.U. officials are now howling that his plans are putting a global economic recovery at risk. They want Obama to resist any retreat into protectionism, warning that it could turn the recession into a 1930s-style slump...
...greater reductions may be needed as the global economic slump deepens. Toyota's plight illustrates the challenges faced by Japan Inc. The company recently achieved its long-standing goal of surpassing GM as the world's top automaker - only to run head-on into a recession far more severe than anyone anticipated. With its global sales down 4% last year, Toyota has already announced a management shakeup as well as plans to temporarily close factories for an additional 11 days over the next two months. The goal is to slash output to less than half the number of vehicles Toyota...
...confrontational setting was more likely to produce results on the currency issue than any forum that smacked of the U.S. putting Beijing on trial for "manipulation," the Bushies believed. In fact, over the past two years, the RMB did rise nearly 20% against the dollar. (Read "China's Trade Slump Worsens in December...
...minister may prefer to keep a distance from the dealings of rich Russians. But Lebedev, still only 49, is no ordinary oligarch. He even rejects the label with its connotations of bling-bling lifestyle and financial secrecy, and in September confided to the Daily Telegraph that the economic slump had shrunk his fortune by two thirds. (See pictures of London's financial crisis...