Alan Greenspan, the former chairman of the US Federal Reserve System, is certain that it is nearly impossible to rapidly retrieve the economic growth in the USA. “As of right now US economic growth is at zero. We are at stall speed,” Greenspan said during an investment conference in Saudi Arabia. According to Greenspan, the US recession may last longer than expected against such a background

All world stock markets are raging. The US economic recession has been a severe blow to the world. Financial analysts say that the USA is the main reason behind all financial problems in the world. Many of them say that it is only the beginning of the crisis. However, other specialists simply laugh at those who panic. They believe that there is no recession in the US and there cannot be any

The U.S. economy is already in recession and that will cause a slowdown in the Canada in the first half of this year, BMO Capital Markets said in its forecast for the year ahead. The Canadian economy will grind to a halt by the second quarter before picking up momentum again in the second half.

The Fed's decision to slash the federal funds rate was the biggest single cut of its kind in recent memory. The Fed cut the rate to 3.5 percent from 4.25 percent — a move that represented the most dramatic signal it could can send of its concern about a recession.

The big difference is that there were real recessions in 1982 and in 1990 but there is not one now. Did you see the drop in unemployment claims? As the Carpe Diem web site shows, the average unemployment rate over the last 50 years has been about 5.6%. The current rate is only 5%.

Stocks fell sharply worldwide following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession.

Bank of America is closing off an enhanced money fund to new investors.

The shares of Royal Bank of Scotland Group PLC went up Thursday after the small writedown due to the U.S. subprime lending crisis.

Ed Zander, a chief executive of Motorola Inc., will step down on Jan. 1, the company said.

The US economy will be able to walk across the minefield of the housing downturn, possible credit crunch and rising oil prices without blowing up.