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Recession

NEWS
By WILLIAM NEIKIRK | December 17, 1991
Washington.-- Joseph Schumpeter, the iconoclastic economist of an earlier day, thought capitalist economies needed a good, cleansing recession now and then.Economists think like this. They're dismal oracles who have the unique skill of removing themselves from the travails of the human race and audaciously telling us suffering is not only good, but also absolutely necessary at times. Their sackcloth gospel makes them unpopular when times are good and despised when times are bad.And, yet, they often go to the painful, disturbing truth about recessions: We must adjust, or fall further behind.
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NEWS
By Leonard Silk | October 22, 1990
IT IS PROBABLE, but not yet certain, that the United States is in a recession.Recent statistics show that the real gross national product dropped at an annual rate of four-tenths of 1 percent in the July-September quarter. Last week, primarily because of a jump in auto sales, the Federal Reserve Board revised its figures upward, showing a slight rise for the third quarter.But the basic trend in the overall economy right now can be described as wiggling around zero.A consensus forecast of 50 leading economists calls for real GNP to decline again in the current quarter as well as in the first quarter of 1991, which would technically make it a recession.
NEWS
August 9, 2013
I find it rather amusing when far left liberals such as Thomas Schaller ( "GOP just can't say yes to Obama," Aug. 7) shout from the rooftops that former President George W. Bush is responsible for the horrendous deficit and economy that poor President Barack Obama inherited. Yet these dishonest liberals fail to mention that the Democrats were in charge of the House and the Senate during the last two years of Mr. Bush's presidency. Since the president neither makes our laws nor control our finances (Congress does)
NEWS
December 2, 2010
I hope I am not the only reader who can see through the proposals to extend tax cuts for the rich. The logical problem is that if tax cuts stimulate small businesses and hardy entrepreneurship, wouldn't we have seen it by now? Like during the year 2010 when there was no estate tax whatsoever? How many dot-coms did the Steinbrenner heirs start? If cutting taxes for the rich is the way to grow the economy, then there would be no recession. For the record I don't think there should be a tax cut for anybody.
BUSINESS
By Gregory Karp and Gregory Karp,MORNING CALL | March 30, 2008
Talk of recession abounds, but it is mostly an academic discussion until you talk about how economic hard times affect you. As the saying goes, a recession is when your neighbor gets laid off; a depression is when you do. In shoring up your financial house against recession, you should watch both sides of the household money ledger, earning and spending. For many, the earning side largely consists of assessing your job security. Updating a resume, networking and keeping an eye out for job opportunities in the newspaper or online job boards also could be a wise use of time.
BUSINESS
By New York Times News Service | June 8, 1995
WASHINGTON -- Federal Reserve Chairman Alan Greenspan raised the possibility yesterday of a brief U.S. recession, but stressed the long-term health of the economy in terms that the financial markets took as a signal that no imminent cuts in interest rates were planned.Commenting on an abrupt economic slowdown, which he called "very pronounced," Mr. Greenspan acknowledged that "as a consequence of the sluggish economic outlook, the probabilities, some of my colleagues have indicated, of a recession have edged up, as indeed one would expect."
BUSINESS
By New York Times News Service | July 17, 1991
WASHINGTON -- Alan Greenspan, nominated last week to another four-year term as chairman of the Federal Reserve Board, yesterday gave Congress one of the most optimistic assessments of the economy he has offered in years.He proclaimed the recession over, reported "promising signs of a slowing in inflation," predicted "marked progress on the deficit" and said he expected the debt of individuals and companies to flatten out after the surge in the 1980s.Mr. Greenspan told a House subcommittee, "At this stage, we are well on the path of actually achieving the type of goals which we've setout to achieve: a solid economic recovery with the unemployment rate moving down to its lowest sustainable, long-term rate, with growth at or close to its maximum, long-term sustainable pace, with inflation wholly under control."
NEWS
By GARRY WILLS | December 20, 1991
Chicago. - Not only are we in a recession; we are in the first economic downturn since the Great Depression that is eating its way up the job scale into the middle class. Hobart Rowen of the Washington Post adduces the figures that were compiled by the Bureau of Labor Statistics. These show that in other recessions in recent years, white-collar unemployment actually went up while blue-collar workers were being laid off. Here are the numbers:* In the 1975 recession that helped defeat Gerald Ford, 1.88 million blue-collar jobs were lost in the space of 15 months, but white-collar jobs went up in the same period by 630,000.
BUSINESS
By Grant Ferrier and Grant Ferrier,Environmental Business Publishing Inc. Dist. by Los Angeles Times Syndicate | March 12, 1991
Solid waste management was initially thought to be the most recession-resistant segment of the environmental industry.Surely even an economic downturn could not stem the tide of the millions of tons of garbage generated by Americans each year.However, the first returns showing that a large environmental company was having trouble came from none other than Browning-Ferris Industries Inc. of Houston, the $3 billion refuse hauler and landfill operator.BFI's 1990 fourth-quarter results were disappointing.
NEWS
December 20, 1990
Judging the Federal Reserve Board by what it does rather than what it says, the Recession of 1990-9? is here and real and virtually official. By lowering its discount rate (the rate it charges member banks) to 6.5 percent from 7 percent, the Fed has moved aggressively to deal with "weakness in the economy, constraints on credit and slow growth in the monetary aggregates." Its reticence to switch emphasis from inflation-fighting to recession-fighting is now history.Financial markets expect the federal funds rate (the Fed-set overnight rate banks charge one another)
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