Well it’s official, the United States has been a recession for the whole year of 2008. A recession is defined as “a significant decline in [the] economic activity spread across the economy, lasting more than a few months.” I’m not a economic major, but I know when the stock market drops a couple hundred points a day it cant be a good thing. Also, when banks have to be bailed out, that’s definitely not a good thing. I really notice this recession hitting hard. People are unemployed, including me, and people can not get loans. Things really do not feel the same this holiday season, it feels like a lot of people are not shopping like they should.
Recessions are caused by things like war, inflation, and high interest rates. Lets just hope that our President elect and senators come up with a good economic plan because this recession has me kind of broke and I’m not feeling it.