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V.V.
Recession? what is it?
what causes it?does that mean we are going into a depression? are people gonna lose their houses and jobs? how can it be fixed? im going to europe for the first time this summer and i feel like i wont be able to afford anything over there now. like everyone just decided the us has turned to crap and it scares the heck out of me
A recession means that goods are being produced, but nobody is making any money. When a consumer is content with what they have, stores start losing profit on their new merchandise. Profits slow and stores lose business. Eventually they close. That can lead to a depression.
At least that is the way I understand recession.
This may be clearer:
http://economics.about.com/cs/businesscycles/a/depressions.htm
Dave F
we are in a recession...they just won't admit it! people are already losing their jobs and homes....yes prices are going up....it will get worse...but then it straightens out and life goes forward again..
Nodor
It is an economic slow down.
Rick
My dad lost his job just about a week ago and it was a higher paying job with a reputable company and you can't afford anything anymore! You tell me.
http://finance.yahoo.com/banking-budgeting/article/104627/Most-Economists-Say-Recession-Has-Arrived-as-Outlook-Darkens
Economists officially say we're in a recession, and things aren't getting any better.
khaled
What Dave F and James W wrote is correct. But the important question is why are we affected. The economic recession is an external factor, and we are affected because we are not prepared for it and we did not work hard enough to strength our earning power i.e our capability to generate revenue ALL the time (it could be finding a job outside US).We know that some people and businesses make more money all the time even during the recession because they are prepared and know how
skixhottie
Its a pre-depression, once you are in it you can get out before a depression. The US is on the way to a reccesion with the way our ecomny is now
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