the great recession

Financial Fears

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It's been five years since the economy began its downward spiral; but some people aren't so quick to forget.

Since the collapse of U.S. investment bank Lehman Brothers families across the world live in fear of a relapse. So they're hoarding money selling assets all in an effort to pad their nest egg. Problem is; the more people protect themselves the more they endanger the global economy.

An Associated Press analysis of households in the ten biggest economies show that families have pulled hundreds of billions of dollars out of stocks, stopped borrowing and are investing money into savings and bonds. Things with interest rates too low to keep up with inflation.  read more »

The Great Recession

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The pundits have finally found a name for our pain.

No one wants to call our troubles a depression because that is such a frightening thought. And in fact it is too big a leap. After all, unemployment may be pushing 10 percent, but not nearly as bad as the 20-30-40 percent out of work during the Great Depression. The Dow Jones may be off some 50 percent, but values were down 80 percent back in 1930. And government has a better handle on the problem than President Herbert Hoover ever did.  read more »