Mar 15 2009
Recession Could End This Year
The main goal is for the government to get control of the banking system, so that the recession could end, according to Chairman Bernanke, who works for the Federal Reserve. He seemed quite optimistic when he spoke to CBS on their show entitled, “60 Minutes.”
This is going to be a a difficult task regardless (Bernanke) because it requires to the banks to lend freely as well as the financial markets to boom again. He said according to the Associated Press “But we do have a plan. We’re working on it. And, I do think that we will get it stabilized, and we’ll see the recession coming to an end probably this year. Even if the recession, which began in December 2007, ends this year, the unemployment rate will keep climbing past the current quarter-century high of 8.1 percent” (Yahoo news).
However, this is the worst recession in history since the 1930’s. Many places have either lost money, business, or put a freeze on spending to keep their company running, but with much hard work.
The goverment has done much to help companies and individuals to survive the economic crisis. This was done by means of helping the car organizations, insurance companies, and many other places too. We have come close to an economic meltdown, but are slowly getting out of with much persistence and determiniation.
Save as much as you can as long as possible until this crisis ends. All of us will get through it, but do not ever give up through that process. Our country and world will become stronger because of it.
