Grieving: American shares. (economics)
Economist (US), The, December, 1991
The US is enduring the lowest downturn in its economy since the Great Depression of the '30s. New issues are being postponed on the stock market, pubic and private debt is high, the property market is low and services and retail industries are lackluster.
IF, AS many suspect, December marks the 18th month of recession, it will be the longest downturn in the American economy since the Great Depression. After months of taking any scrap of bad economic news as an excuse to push prices higher, financial markets and even George Bush are at last bowing to the grim truth. This may be a shallow recession, but it is turning out to be a mighty long one.
On December 18th Alan Greenspan, chairman of the Federal Reserve, told Congress what it knows but does not want to...
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