Is the usa in recession?

Question

I’m not from US. I heard from some people that countries like USA, UK and Ireland live now a great recession. Is it true? So theres no jobs, imports, and so on going on now in those places? Tell me how is the situation please.

Answer 1

Technically its not in a recession (we have eeked out very slight growth) but things are really tough.  Prices are going up while wages mostly are not.  Its hard to find or change jobs, millions are upside down on their mortgages (owe more than the thing is worth) and millions are in debt to the hilt on the verge of bankruptcy (or in bankruptcy).

Still, there is tiny growth of the economy and are some bright spots but things are tough.

Answer 2

America is broke and has been for many years.If all foreign ownership of companies that America owned were nationalised America would collapse as they need to keep investing in other countries to keep money going to America rather than the country which rightfully own the companies.

Answer 3

If we follow Wikipedia's definition recession, "A recession is a contraction phase of the business cycle.", then yes, the USA is in a recession. The housing prices have contributed much to the recession.

I think your confusing "The Great Depression" with the current recession. Recessions for the most part are natural, hence the definition enlisted on Wikipedia. There are still jobs, imports and exports going in America.