US recession: The Big Daddy grows old
By Haresh Soneji & Shravan Sreenivasula, CNBC-TV18
The US recession leading the world to a slowdown.
Yes, a lot of people will talk. A lot of people are talking. People will debate. People will criticise. But, people won't forget this for sure for a long long time. This is something that will affect everybody - the US recession. Believe it or not, it’s on. And as they, when America sneezes, the world catches cold.
You may argue that things are changing. We are sure, it will in the long run along the normal curve. But, in the short term, US will affect the world.
CNBC-TV18 does some fact finding and digs out some hard clues for you; look at some of these charts for a clearer picture -
Consumer confidence is falling drastically. Now, almost at its all time low -a 22% drop from its high in July '07.
Home sales data is the lowest ever. Falling consistently since the peak of April ‘05. Down 50% since then. And fallen 26% since April ‘07. The speed has increased.