In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise. Recessions generally occur when there is a widespread drop in spending, often following an adverse supply shock or the bursting of an economic bubble. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for defining a recession, one of which was "two down consecutive quarters of GDP". In time, the other rules of thumb were forgotten. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months. In the United States, the Business Cycle...
2009 was a pathetic year for most of us. The recession ball had hit us bad and all of us were in constant fear of losing our jobs. I remember how scared my brother was, who was working in a top MNC at that time. His colleagues were getting fired by the minute. Pink slips were being circulated like free flowing water. It was a mad year my brother had said to me. But I have noticed one more thing. We Indians get more bogged down by losing our jobs than our western counterparts. Why the hell do more »
Neha Singh started the Discussion
on Nov 26, 2013 , 04:19 pm
Surrounded by cheapos
Because of recession, so many ppl have become desperate that they r ready to exploit n prostitute themselves..I am sick n tired of male n female hookers who r good for nothing, but they may actually be v good at their jobs. Have u met such idiots, more »
Indian PM Manmohan Singh might be a great economist but I don't have any faith in him. Now that he has said that there is "no chance" of India going back to the economic situation of 1991 with the drastic downfall of rupee, I'm suddenly more »
Neelam Nath updated the Blog
on Sep 09, 2013 , 07:03 pm
Ganesh Chaturthi Celebrations have Started Today,Entire Mumbai is having Ganesha Pandals.
We all need to Remember our Gods ,for a day ,for a week ,fortnight or keep fasts for a Month. Today I was watching NDTV news ,entire Mumbai is having Pandals ,Blocking Roads, People are Visiting from one End of City to another, competing with Each other ,who has Visited Maximum Pandals, and this is the generation in their 20s-30s. Wonder was it a Holiday ,will there be holidays for 9 more days , People will Not go to Work ,when India is Facing Recession , Rupee is Low , Imports are High and more »
Inflation is at an all-time high in India. Prices are going up, and salaries are taking a major hit. There are no jobs in the market. It seems as if recession has finally come to India as well! So how do we get out of this rut? The financial crunch more »