recession

A Strange Economy

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It's been nearly ten years since the great recession and while some people think another bubble burst is on the way others say our current economy is just plain weird.

Economists say that an economy in the wake of a recession usually bounces back. But since 2009's official recovery America has been slow to do that. Instead analysts tell MSN Money the economy is acting strange and there are ten very specific reasons why.  read more »

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 »

Cutting Back

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Cash strapped Greece is cutting back… on job perks.

After being bailed out twice by the Euro Zone and the International Monetary Fund Greece is looking to save some cash. And it’s coming out of the pocket of the private sector. The latest change includes scraping a bonus workers have enjoyed for more than two decades; six extra days of paid vacation every year just for using a computer. That idea went into effect in June of 1989 to reward people who had to sit in front of a screen for more than five hours a day. The country’s administrative reform minister says that idea is outdated.  read more »

A Depressing Recession

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We’re battling a recession and it’s getting depressing.

Analysts say our current economic situation cannot compare with the great depression. But MSN Money disagrees; and they’ve found ten reasons that prove otherwise. For example today anyone holding Greek bonds has a reason to be nervous. And our stock market rises and falls based on the news from Europe.

MSN says much like the great depression the causes and effects of today’s recession are global. When the treaty of Versailles ended World War I Germany was given a bill for reparations. And to pay back the victorious European countries they borrowed from U.S. banks then defaulted. Today if a Greek default can’t be prevented the problem could spread to Italy, then Spain and so on.  read more »

Underpaid and Underage

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The country might be emerging from a recession, but some British citizens are still feeling the pinch.

According to a new survey the weekly allowance given to kids in Britain is at a seven-year low. A sign that no matter how many of the chores get done, parents are still cutting back on non-essential spending.

The survey conducted by the banking group Halifax interviewed over 1,000 children between the ages of 8 and 15. It found that since last year, the average weekly payout for kids has gone from almost $10 in 2009 to $9.23. This is the lowest paycheck for minors since 2003. And girls are feeling the cutback even more, receiving 6% less than their male peers.  read more »

Sharing the Recession

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The recession might be hitting all of us hard here at home. But at least we’re not alone in our struggles.

On a recent trip to Ireland I had a chance to talk with David Daly, a well known Dublin Developer for Albany Homes. Real estate values in Ireland have taken as big a hit as in the U.S. And just as here, the economic collapse has forced Ireland to dramatically cut public spending and raise taxes. Banks are under water. Unemployment is above 13% and there is no rapid turnaround in sight. Daly says they have only themselves to blame for overbuilding. Daly says the money was spent as fast as it was coming in but the boom is over. And Daly says we have yet to learn, in Ireland and in America.  read more »

A Rainy Day Fund

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If you didn't make a habit of saving money, the past year has taught you a harsh lesson. So maybe 2010 is the year to bank a little change and maybe it can be easier than you think.

MSN Money has put together a list of nine sneaky ways to save money. Nine things you can do to boost your bank account without feeling the pinch. Rebecca Schreiber is a Financial Planner in Washington, D.C. and while she acknowledges that these days it's hard to set aside money, even two to five dollars a week will eventually add up. Skipping your latte twice a week could mean an extra $200 a year. A cushion that could come in handy for the next rainy day.  read more »

Staying Afloat

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Analysts say the recession is coming to a close and while this is good news for your bank accounts there may be some left over lessons you remember.

During this period of economic uncertainty you made some cuts to your lifestyle and started saving a little more for a rainy day. Well with the sun about to shine again US News and World Report says you should keep up these habits and provide yourself with a better economic future no matter what's on the horizon.  read more »

Parisian Charm for Cash

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While famous for its culture and architecture, Paris isn’t known for having the world’s friendliest citizens. But that may soon be changing, thanks to the worldwide recession.

Parisians have a well-deserved reputation for rudeness to foreigners. Have you ever walked into a Paris shop knowing the clerk speaks English, but insists on speaking French? Or have you noticed that while traveling by train in other countries, stops are announced in the local language and in English, except on French trains, where only French is spoken.  read more »

Candy in a Sour Economy

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There certainly are some dark clouds hanging over our struggling economy. And that depressing economic news has Americans cutting spending and agonizing about the future. But it may be time to take in a strong dose of positive thinking and look for the silver lining.

For example, one major impact of the global economic slowdown is the dramatic drop in the price of oil—bringing you lower gas prices. Home values have plummeted. But that means you can ask for a re-assessment to pay lower property taxes. Also people, who were priced out of a home in the boom years, can now buy at a price they can afford.  read more »