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