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US faces severe recession

The US faces a recesssion in which the production of consumer durables and the construction of new houses nosedives.

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US faces severe recession
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Early baby boomers will be hit particularly hard
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Bank bankruptcy bailouts worsen national fiscal position
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Commercial real estate loan market will seize up
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Driven deeper by vicious circle of losses fueling further losses
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Major investment projects are scaled back
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Major nonfinancial companies go bankrupt as well
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Recession leads to defaults on other unsecured debt
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Sharp decline in consumer spending
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Unemployment above 10 percent
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Implications of financial crisis for climate change?
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More financial institutions will collapse
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Global insolvency / bankruptcy
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Stock markets around world will fall sharply
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Geo-political instability
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