Recession News

2009 is poised to be a year of great turmoil and change.

The latter part of 2008 saw the beginning of the recession with many major banking and financial firms having to have mass layoffs and seek government bailouts to stay a float.  However, this first wave has now spread out creating a second wave that has hit other major companies in the automotive and consumer goods areas.  Major industry leaders like Ford, GM, Home Depot, and others are being forced to close plants and layoff additional employees.  This coupled with reduced consumer spending could be evidenced by lower Christmas sales for 2008 year.  With all this as a current backdrop, 2009 truly is poised to be a challenging time for the American public.

Here, we will chronicle in this section news related stories and articles as they happen.  Be sure to look at each respective month to find relevant stories.  Over the course of the year, you should start to see a pattern developing where the current recession extends into the coming Depression.

April 2009

March 2009

February 2009

• Words To Remember

  • "It's a recession when your neighbor loses his job; it's a depression when you lose yours."

    Harry S. Truman

• Business Quotation

  • "In the business world, the rearview mirror is always clearer than the windshield."

    Warren Buffett