What happens when the economy goes in to recession?

Posted by admin
recession
booboo asked:


I was readding today that Greenspan warns “US economy may fall into recession later this year.”.What does that mean for the general population and how will this affect us?
Yes, I was reading today that was typo.

Christian
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    • This entry was posted on Monday, July 6th, 2009 at 10:56 am and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

    « Whats the difference between recession and depression?
    When does an economic recession become an economic depression? »

    No Responses to “What happens when the economy goes in to recession?”

    1. willow Says:
      July 9th, 2009 at 1:07 pm

      don know
      looks like u can forget bout the supermarket n get some rambo arrrows to hurt rabbits for your din din

    2. Michael R Says:
      July 10th, 2009 at 2:18 am

      Economy slows down significantly, people lose their jobs, spendable income falls…People with a lot of money can make even more, as prices of real estate fall…Foreclosures, bankruptcies raise…Not good generally..

    3. Yo, Teach! Says:
      July 10th, 2009 at 7:07 pm

      This is part of the overall business cycle. After a period of growth, for various reasons, the economy slows down and can even contract (GDP gets smaller). This is referred to as a recession.

      The overall effects to regular people:

      Job loss: companies sell less products so they make their workforce smaller by “downsizing” people.

      Reduced spending cash: Hourly workers work fewer hours or no overtime thus leaving them less money to spend. Oddly, this only makes the recession deeper as their lack of spending causes more businesses to cut back as well.

    4. delujuis Says:
      July 13th, 2009 at 9:45 pm

      the wealthy remain wealthy, and the rest of us suffer as always.

    5. Mike G Says:
      July 17th, 2009 at 9:03 am

      Jimmy Carter gets re-elected to president.

      You were READING today? Next time try reading a spelling book.