June 13, 2009, 11:57 pm
The current economy of United States is now obviously weaker compared to its economy decades ago. The rate of jobless people increases every month. United States is now at a high risk for a second recession as soon as Obama’s stimulus act is over.
Even though it is possible that there will be a moderate growth by the fourth quarter of 2009 until the early quarter of 2010, the global credit crunch will still leave the investors, business owners, and the rest of America unwilling to spend or even borrow the way they did few years before the economic recession started. As a result, this would lead to another crisis in the economy.
May 14, 2009, 9:46 am
According to the Standard & Poor, best known as S&P, the crisis in the banks in America haven’t started this “new phase” yet. They were talking about the crisis that it is currently facing and they believe that it would last until the year 2013.
The popular credit rating agency also said that the banking and finance industry is currently being bombarded by support from the government. There are also other lenders who are supporting the banking industry as well and they are usually the ones who consider the sector as essential in the financial system.
Tanya Azarchs, the managing director of S&P said in a recent interview that it is needless to say that the banking industry will still experience the crunch for the next three or even four years.