Source: Fox Business.com November 6, 2008
Author: Donna Fuscaldo
Concept: Financial Outlook, Recession
Brief Synopsis: This article talks about the world economic position and predictions for the future. In the future, it is believed that the economy will contract for a full year period. A recession occurs when growth declines two quarters in a row. Basically--the article notes the world is inevitably heading toward a recession so we need to get prepared.
My Thoughts: I believe that this has been a long time coming and I am surprised that people are just now beginning to say a solution must be found. I've read other articles that say Obama's entrance into the White House will be much like that of FDR and I believe this is necessary to turn the economy around. Obama has a lot to take care of going into the Presidency but I believe he can be the one to turn things around and give people faith in the economy again.
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