Every event in the world gives rise to new words and terminologies. Since the later part of last year till now, I believe the most common phrase I have heard is ‘Global economic meltdown’.
The current economic situation in the world has been described in various ways. Recently, I heard Prime Minister of Britain, Gordon Brown refer to it as ‘an economic earthquake’. The economies of the developed countries of this world as we know them, are in recession. Governments are frantically doing all they can to revive their economies, thus we hear the frequent use of the phrase, ‘Bailout plan’. Read the rest of this entry »