Analysts don't expect recovery in 2009
(NEWSER) - The global economy is in a faster decline than economists predicted only weeks ago, as the bursting of the biggest-ever real-estate bubble hits real economies in Europe and Asia, killing millions of jobs and shutting businesses, the Washington Post reports. Britain just posted its biggest quarterly slump since 1980, while Germany, China, and South Korea all reported surprisingly steep declines. The numbers call for more government aid and suggest we may not see a recovery before 2010. More»