US faces severe recession
The US faces a recesssion in which the production of consumer durables and the construction of new houses nosedives.
Immediately related elementsHow this works
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The Global Financial Crisis Â»The Global Financial Crisis
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Potential consequences of the financial crisis? Â»Potential consequences of the financial crisis?
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US faces severe recession
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Early baby boomers will be hit particularly hard Â»Early baby boomers will be hit particularly hard
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Bank bankruptcy bailouts worsen national fiscal position Â»Bank bankruptcy bailouts worsen national fiscal position
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Commercial real estate loan market will seize up Â»Commercial real estate loan market will seize up
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Driven deeper by vicious circle of losses fueling further losses Â»Driven deeper by vicious circle of losses fueling further losses
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Major investment projects are scaled back Â»Major investment projects are scaled back
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Major nonfinancial companies go bankrupt as well Â»Major nonfinancial companies go bankrupt as well
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Recession leads to defaults on other unsecured debt Â»Recession leads to defaults on other unsecured debt
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Sharp decline in consumer spending Â»Sharp decline in consumer spending
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Unemployment above 10 percent Â»Unemployment above 10 percent
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