February 27, 2008
Recession? What Recession?
Ever hear some of those economic indicators and find yourself glazing over faster than that doughnut you had for breakfast?
Us, too. And we live for this stuff.
Unless you've been living under a rock for the past several months,
chances are you've heard about the recession, which is either impending
or already upon us, depending on who you listen to.
The word recession, as defied by the American Heritage Dictionary, means "the act of withdrawing or going back; an extended decline in general business activity."
The business world defines it in
a slightly different way: the Gross National Product (GNP) must have
fallen for at least two quarters in order to qualify.
Either way, prices can rise sharply or decline during a recession.
Keynesian economists usually suggest additional deficit spending, while
others back tax cuts like the ones most of us will see in May or June
of this year. Both methods are designed to add more money to the
existing economy.
Whatever your situation, it's best to stay empowered by reading up
on the likely events surrounding a recession, and take the steps that
make the most sense for you.
Visit http://www.ehow.com/how_2182598_deal-survive-economic-downturn-recession.html for more information on surviving an economic downturn.