Many are unsure or confused about what a recession really is. A recession is any sudden or steady downward shift in economics for a country. In simpler terms, a downfall. Here are some helpful facts about the recession. Just 11 things you need to know about the current recession.> The most infamous recession ever was the Great Depression which lasted a whooping 10 years! (That’s a whole decade) However, this recession is closest in disaster.
> Obama has just recently signed a $787 BILLION dollar stimulus bill due to fear the recession may get worse.
ü Detroit, also known as The Motor City, has seen drastic economic downfall since the consistently crashing automotive sales.
> On that note, GMC and Chrysler Motoring Co. have proposeda $22 billion dollar bailout and in return have promised to lower worker’s pay.
> No state is safe. Just recently, California announced that on Tuesday, February 17, 2009, that 20,000 employee’s job will be short-lived.
> One state have found at least one solution to saving money, Pennsylvania can honored for the latest trend in grocery shopping. Grocery BIDDING! Yeah, it’s true. Consumers are switching from shopping lines to bidding signs. These auctions take place in other states also like Michigan, Ohio, and Indiana.
> The recession is definitely not just a U.S. issue, it’s GLOBAL! Just some of the other parts of the world being affected are China, Latvia, Sri Lanka, New Zealand and most recently Canada.
> This recession will be the longest downfall for America since WWII. (Expected to end sometime during the first quarter of 2010.)
> Causes of a recession, this one in particular, are overproduction, war, price of fuels, and mainly sub-prime loans.> The United States of America current unemployment rate is a sprouting 8.1% nationally as February 2009.
> NEWSFLASH! Most Americans blame Bush for nation’s present debacle.
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