We are now in "Great Recession".
IMF officials warned that the crisis could risk millions into poverty and spark civil unrest or even war before it could get better. It was said that the global economy was set to shrink for the first time in decades since World War II.
The stimulus funds and efforts provided by governments seem not working as companies are asking for more. Governments want their citizens to spend more to boost the retail sector but people are having second thoughts, they would rather save than spend and prepare for the worst to come, the Great Recession.