What happens when the economy goes in to recession?
Dec 28, 2008 in
Economics
booboo
I was readding today that Greenspan warns “US economy may fall into recession later this year.”.What does that mean for the general population and how will this affect us?
Yes, I was reading today that was typo.
I was readding today that Greenspan warns “US economy may fall into recession later this year.”.What does that mean for the general population and how will this affect us?
Yes, I was reading today that was typo.
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5 comments
willow on December 29, 2008 at 12:11 pm
don know
looks like u can forget bout the supermarket n get some rambo arrrows to hurt rabbits for your din din
Michael R on December 31, 2008 at 10:04 am
Economy slows down significantly, people lose their jobs, spendable income falls…People with a lot of money can make even more, as prices of real estate fall…Foreclosures, bankruptcies raise…Not good generally..
Yo, Teach! on January 1, 2009 at 9:03 pm
This is part of the overall business cycle. After a period of growth, for various reasons, the economy slows down and can even contract (GDP gets smaller). This is referred to as a recession.
The overall effects to regular people:
Job loss: companies sell less products so they make their workforce smaller by “downsizing” people.
Reduced spending cash: Hourly workers work fewer hours or no overtime thus leaving them less money to spend. Oddly, this only makes the recession deeper as their lack of spending causes more businesses to cut back as well.
delujuis on January 4, 2009 at 8:03 pm
the wealthy remain wealthy, and the rest of us suffer as always.
Mike G on January 8, 2009 at 12:49 am
Jimmy Carter gets re-elected to president.
You were READING today? Next time try reading a spelling book.