Recession 101

Nationwide, we’ve seen headlines flashing on the television and the newspapers. From reports about financial turmoil in the United States to the deep dive of the Canadian loonie, we’ve seen the current state of the global economy and the financial markets. We’ve also seen warnings that the United States could see its worst recession as the real economy begins to show signs of strain in consumption and manufacturing.

For Canadians, the mere mention of the word recession can cause serious worries especially for those who have a job, those who have investments or those who are thinking about making a big purchase in the near future.