"We're All Sub-Prime Now!"


( Read more... )

By Charlie Stross ( Read more... )

File Under: Yes, This is a DepressionThe United Kingdom has already fallen back into recession, and the EU is just about there as well, according to analysts from Standard Chartered Bank (as well as others). The latest update to Standard Chartered's forecast now calls for a sharp contraction throughout Europe, with the UK shrinking by 1.3% for 2012 ( Read more... )

CNBC
'Depression' Makes Return to Mainstream Lexicon

You know it's grim when the prevailing debate among economists and historians is whether the world economy faces the "Great" depression of the 1930s or the "Long" depression of the 1870s.

Listening to commentary surrounding the seemingly intractable sovereign debt and banking crisis in Europe, the ( Read more... )

from Salon.com/War Room
Monday, Sep 12, 2011 09:01 ET
By Steve Fraser, Joshua B. Freeman
( A demobilized workforce has become the norm. Can the swelling number of jobless change that? )

Publicly admitting what most honest economists have been saying for a while now. I guess there's still something to be said for better late instead of never...
New York Times
White House Expects Persistently High Unemployment...The unemployment outlook for the next 16 months reflects a 9.1 percent rate this year, down slightly from the 9.3 percent ( Read more... )

Professional economic forecasting agencies are ratcheting down, yet again, their expectations of US/Europe/Global GDP, this time with several more of them also including clear concern for the risk of new recession.

A couple of points

• The most recent official estimate of US & EU GDP shows that these economic blocks had not yet recovered their GDP ( Read more... )

New York Times
Aftershock to Economy Has a Precedent That Holds Lessons

Like earthquakes, financial crises seem to be accompanied by aftershocks, like the one we’ve been living through this week. They can feel every bit as bad as the crisis itself. But economic history and academic research suggest they can set the stage for a sustainable ( Read more... )

CNN
If investors leave, the 1930s could return
By Charles Geisst, Special to CNN
August 10, 2011 10:38 a.m. EDT

The events look and sound familiar. A stock market collapse and a debt crisis forced the United States into dire economic circumstances that no one anticipated. At congressional hearings on the causes of the crisis, investors testified ( Read more... )

"Great Recession" has really stuck as the name given to the downturn that officially began in late 2007 and officially ended in mid-2009... and unofficially started back in 2006 and unofficially continues in many ways to this day.

The downturn certainly has felt greatly awful, but how does it measure up against other recessions? Was it really and ( Read more... )