From Bloomberg: U.K. Economy Unexpectedly Shrinks in Longest Slump GDP fell 0.4 percent from the previous three months, the Office for National Statistics said today in London. ... The economy has now shrunk over six quarters, the most since records began in 1955. ... “The fact that the econom ... Read more

Professor Roubini thinks the economy will be in recession through the end of 2009, and that the recovery will be "shallow". More from Christian Menegatti at RGE Monitor : The general consensus is that this recession will end sometime in the second half of 2009. While RGE Monitor expects mo ... Read more

There is one bit of good news that we can take from history about recessions and even depressions.  They tend to be a time of major transformations due to the typically high levels Schumpeterian creative destruction active in the economy.  Consider the following ... Read more