Recession or Depression - How bad will it be?

Image by Getty Images via Daylife

The current Recession is portrayed more as the upcoming Second Great Depression. Its the popular belief. Its the speculation that drives the economy. Its the way economy works. If you are still making good money, expect to be on job for the next 5 months, you have nothing to do with the Recession. Its just a personal thingy.

Technically, the entire globe is in great recession.

Newspapers, Magazines and Websites are churning out bad news and hopes to survive. This is my perception of how bad is the recession.

It's the worst recession since the great depression.

GM and Chrysler are on the verge on collapse. Bad decisions are the cause. It has always been so with these companies. They had respite from financial lenders. It's not going to be the case now. There is no money in the market and only the government can save these companies.

Toyota has announced loss for the first time in its 70 years history.

Microsoft is cutting jobs for the first time in its history.

Google cutting jobs for the first time.

The big US banks that once controlled the global economy don't exist anymore.

Circuit City closes chain, due to non-availability of credit for merchandise.

German billionaire tycoon Adolf Merckle commits suicide. Forbes 94th richest man on planet.

Typically in every recession, the signs are known towards the end of recession, meaning the turn around in economy is around the corner. The current recession signs seem to be just the beginning of worse.

Related articles

• Toyota's loss first in 70 years
  
• Credit Crisis claims another elite investor