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US faces severe recession
Position
1
#6911
The US faces a recesssion in which the production of consumer durables and the construction of new houses nosedives.
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The Global Financial Crisis
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Issue
Potential consequences of the financial crisis?
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Position
US faces severe recession
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Component
Early baby boomers will be hit particularly hard
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SupportiveArgument
Bank bankruptcy bailouts worsen national fiscal position
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SupportiveArgument
Commercial real estate loan market will seize up
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SupportiveArgument
Driven deeper by vicious circle of losses fueling further losses
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SupportiveArgument
Major investment projects are scaled back
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SupportiveArgument
Major nonfinancial companies go bankrupt as well
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SupportiveArgument
Recession leads to defaults on other unsecured debt
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SupportiveArgument
Sharp decline in consumer spending
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SupportiveArgument
Unemployment above 10 percent
Citations
Author:
Jeffrey D. Sachs, Scientific American
Cited by:
David Price
10:14 PM Saturday 4 October 2008 GMT
URL:
http://www.sciam.com/article.cfm?id=fixing-financial-crisis&print=true">http://www.sciam.com/article.cfm?id=fixing-financial-crisis&print=true
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Metadata
Entered by:-
David Price
Entry date (GMT):
10/4/2008 10:12:00 PM
Last edit date (GMT):
10/4/2008 10:34:00 PM
Incoming cross-relations:
0
Outgoing cross-relations:
0
Average rating:
9
by
1
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