abandonment, backyard gardens, and paper box production.
Brad Tuttle covers business and personal finance for TIME. He lives in Massachusetts with his V-Checker V602 wife and four sons, and also teaches journalism at UMass-Amherst.
How bad does the recession get?
I ve got a piece up on TIME.com about the current race-to-the-bottom in GDP projections. It begins:
Just how far and how fast will the economy drop this quarter? There s lately been a race to the bottom among forecasters, with the economists at Goldman Sachs leading the way. Early in the week, they put out a report saying that -3.5% annualized GDP growth was their baseline forecast for the quarter, but they also went so far as to outline a just awful scenario of -6.0% and a worst case of -7.8%. Today they updated their baseline forecast to -5%.
That puts Goldman well ahead, for the moment at least, of even Nouriel Roubini, the New York University professor known as Dr. Doom whose current forecast is about -4%. Lots of Wall Street economists less renowned for their gloominess have by now moved past the -3% mark. In fact, one explanation for the stock market s horrible week could be that the realization of just how bad the quarter will be is finally sinking in among investors. Read more.
Funds Museum in Greece Aims to teach Youthful Men and women Financial Literacy
ATHENS It does not take prolonged to get the pulse of this countrys financial difficulties. Following my arrival, the taxi trip towards the hotel was delayed an hour by street demonstrations. We have big problems, the motive force volunteered. Greeks head to mattress each evening without any notion what will happen each morning.
Outside town, about the KESS OBD TURNING KIT isles, folks speak of The Depression in Athens, and retailers market crisis charges. A jeweler said she was offering with the expense of components as the tourist season is more than and I simply cannot eat turquoise this winter season.
A number of protect austerity steps, stating the
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