Wow. According to the National Bureau of Economic Research, the US has been in a recession for a year now, starting in December of 2007. I was not expecting it to have started so early. I wonder why they waited so long to declare it? I thought you only needed a couple of quarters of consecutive contraction, but apparently it's not that simple.
"The current recession, which many economists expect to persist through the middle of next year, is already the third-longest since the Great Depression, behind only the 16-month slumps of the mid-1970s and early 1980s."
Wow. Anyways, Reuters writes about it here.
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In a recession, it isn't always bad. Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Recession Bailouts for YOU
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