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Is your recession over? Join CNN’s live chat today at 1500 GMT

January 29th, 2010
09:00 AM ET

How is 2010 shaping up for you financially? Do you expect the coming year to be better for you, your family and friends? Is your community through the worst of the recession – or are you still experiencing tough times?

Join the debate on what you think 2010 will bring.

Join the debate on what you think 2010 will bring.

CNN would like your views on whether governments’ and banks’ policies have helped or hindered recovery.

Becky Anderson and the Connect the World crew are teaming up with Richard Quest to host a live debate today on what 2010 might hold for the world economy. Richard Quest will join us live from the WEF at Davos to give his view on what the policy makers are really thinking.

We’ll also be joined by Paul Armstrong, who’s blogging from Davos all week, and Harvard University’s Ken Rogoff.

Please click here to join the live Skype chat

All you need to join is a Skype account – click here to get set up

We will also have a live stream of the event which we will broadcast on CNN.com.

In the meantime please leave your comments and questions below.


Filed under:  General
soundoff (27 Responses)
  1. Steve S.

    My recession is over. 2010 is looking good just because I compare it to 2008 and and 2009... but compared to the pre-crisis times? I have a new job with even a better pay than the one before, however, the wounds will take time to heal. I wiped out all my savings by just "living" during this economic downturn. Thus, I will not start spending and consuming like I did before the crisis until my savings are at a decent level - probably another year or two.

    January 26, 2010 at 3:09 pm | Reply
  2. John

    I find it hard to believe that so many people do not see that the big firms are only manipilating the game. Look at GM- We are going under please help us!! We are so sorry that we can not make it so we must let your Mom´s Dad´s bro´s and sisters go. But do not look at the billion plus dollar factory we are building while recieving your tax dollar bailout money.. THANKS SO MUCH for your generousity!! Our partners in crime (the Banks) are doing their best too. Look at what they do!! Pay those outragious paycecks, you can call it what you like bonuses or whatever it amounts to the same thing. But why does everyone complain about the national debt? All the government must do is become a bank. Not only in a few short years eliminate the budget, make new jobs, the CEO´s would earn less than the the SEC of State, and the people would get credit that they can afford with their new lower paying jobs they were forced to take after getting fired so the stockholders can make more money. Look at Micro Soft –from Jan to Mar 2009 only a minimum of 4.1 billion (not positive the exact amount but im close to it) dang not good enough got to fire a few thousand GOT TO HAVE MORE!!! And you dare ask how my recession is going- I was lucky and still have my job but i know I can not trust the big firms anymore, look at the first thing that happens from a merger fire some people quick. Look at Philips fired alot of peaople to make a profit. Now if they were really writing red numbers i would under stant there are good years and not so good but if you still make a million you are still maing money just the stockholder is not making as much. And please if the bank lowers my interest on my savings I justgot to take it but do not dare start on the stock holder chairman who probally makes more that the CEO!! So I and my family does without for 4 to 10 years no more credit!!

    January 26, 2010 at 3:42 pm | Reply
  3. Mike T.

    No, absolutely not over. Laid off in May 2009 from a well-respected consulting firm whose revenue input went into free-fall in Feb '09, Have had no luck finding full time employment. First the young consultants were given the boot en masse in Feb. then they started culling corporate in May. 9 years. Thanks for all that, watch your ass on the way out the door. Seeya.

    I believe part of the problem is that I am an experienced graphic designer with perhaps too much experience. The skills required of our career field have been devalued by the marketplace, and clueless HR everywhere are demanding too many requirements to fill the handful of cynically underpaying jobs out there. There is a serious disconnect between what people should be required to know as part of their jobs in the real world and what these companies expect of applicants.

    Designers are designers, whether print or web. Same sensibility applies. But now it is demanded of us that we be coders and programmers...and the pay is downright insulting. Granted, knowing front-end development is a brave-new-world necessity, but all the back-end...that's what IT is for. I say enough. Give us a break.

    January 26, 2010 at 4:04 pm | Reply
  4. Windy

    I wasn't a big spender before the recession, nor did I have a lot of disposable income, so the recession didn't really force me to cut my spending (because you can't cut what isn't there to cut). I was fortunate enough to be hired, though, so I can't compare my experience to that of the many who have been unemployed for six months or more. The main way that economic troubles may have impacted and may still impact me is in limiting my career mobility. (I suppose my ability to get loans has been impacted, too, but I'm not seeking any commitments like that right now, anyway.)

    January 26, 2010 at 4:33 pm | Reply
  5. James

    Australia never had a recession. Much ado about nothing.

    January 26, 2010 at 4:52 pm | Reply
  6. Reality

    Recession continues for the millions of unemployed. There are millions who have been unemployed for more than a year and still cannot find employment. The Recession is definately not over for the common man. As long as people don't have jobs, they cannot participate in healing the economy. The unemployed middle class has desimated the backbone of the economy.

    Bottom line: No Jobs,No Spending, No savings, No Recovery.

    January 27, 2010 at 5:05 am | Reply
  7. Emmanuel nnaleche

    The economic problem has affected mostly many african nations,because of lack of development many of the african countries has known insecurity for most of their lives before this depression hit.it affected them mostly on the finiancial status,because an international business man that transacts business from nigeria to china need a fall in the price of dollar before his/her can make a profit.that is how it affect both the local businesses in all parts of africa.

    January 27, 2010 at 6:53 pm | Reply
  8. Yemi Soneye

    I think recession has just started in Africa. Only in the last quarter was it shown in a very monstrous manner. Thousands of jobs were lost in the Nigerian banking sector.
    Our capital market has not bounced back nor respite visible in the nearest future. Our economy seems to be on the downward trend. Long queue for fuel has even compounded all this.
    I dont want to sound pessimistic but in Nigeria, the recession is gaining ground inch by inch.

    January 27, 2010 at 6:53 pm | Reply
  9. petrus M Kambala

    My recession is not yet over but atleast this year I AM kind of like better off. My instalments will decrease to less than 20 US dollars a month. But,I am happy to have received a 10 percent salary increase. That made me feel am that I am finally out of the recession. Anywhere Namibia's uranium mining sector,where i work,didn't suffer that much like the diamond sector.

    January 27, 2010 at 7:29 pm | Reply
  10. Samaila Abauw

    The economic situation of the Nigeria is bad, a Country where every government are not helping the poor masses. When we have billions of Naira been spent on un useful and un Godly manner. Why can't the World bank save the situation of our bless country Nigeria.

    January 28, 2010 at 7:04 am | Reply
  11. Eduo

    The reactionary policies aimed at recovery from the recession can only go as far as the imperfections of CAPITALISM can allow them to go. Time will always come for any man-made system (such as the over reliance on the Market) to run out of steam. Time has also come for true leaders all over the world to rise above greed and poverty of the mind that create fertile grounds for; hatred between the civilisations, policies that furiously set the weak against the strong, the poor against the rich ... what were (are) the motives for slavery, colonialism, resource exploitation from the native lands and now globalisation? The doom of these policies can always be found in the inequalities that set in from them. Answers may not be found in Bolshevik's Socialism. Can Sarkozy prove a point going forward from his speech on Wednesday?

    January 28, 2010 at 3:35 pm | Reply
  12. Eve NJ

    Not over and I believe far from to be. But also unfairly, not over.There is so much work at my office,I have no time to eat.My boss let go about 60 people, but work is coming left and right.We are all here making lots of money for the company but the company doesn't care much.We still working 30 hrs.with so much less "hands" and so much work to process.We have lost working hrs.,rate /per hr.is reduced and now I feel, I am used very much,just as everyone here .For my boss the recession for sure is over.Not for us.
    Welcome to modern slavery time.

    January 28, 2010 at 9:05 pm | Reply
  13. Micheal

    I know it is going to be great for me coz with God all things are possible.

    January 28, 2010 at 9:10 pm | Reply
  14. Phil

    I'm 60 years old and college educated. I have always had paid work with only very occasional and short downtime. I have technical scientific skills that I have continued to up-grade with new knowledge and training skills.

    I have invested the time and money to keep up-grading my skills with coursework and training time. That is one of the key stategies to continue to be employed for your present employer and possible future jobs.

    People need to be proactive about developing new skills that are marketable in the ever-changing workplace.

    January 28, 2010 at 9:39 pm | Reply
  15. Jan

    "James January 26th, 2010 1652 GMT
    Australia never had a recession. Much ado about nothing." What are you saying! My husband worked at a company in Brisbane and got fired along with 14 other workers and the second company he worked for went belly up. We are now in Africa – working on a temporary basis and it will take many years to heal the wounds inflicted by Australia and the Global Financial Crisis. There are families out there who lost everything and they are wondering where the next meal will come from for their kids. Many have lost basics like shelter etc. You are just lucky not to be affected. Be grateful instead of boasting about how great Australia is. Greedy Australia ruined us for life!

    January 28, 2010 at 9:58 pm | Reply
  16. Elle B

    Not over for us... we're expecting our own personal double-dip. My husband (then fiance) lost his civil engineering job last February. He started a new job in April, but that company is struggling to make payroll and is unlikely to survive the winter. We had a mortgage application in when he lost his job last year and we've managed to hang on to most of the money we had saved for a downpayment, but we seriously doubt we'll be buying our first house this year. We're also putting off having kids until we feel more financially stable. We think there is going to be a mini baby boom once the economy finally recovers.

    January 28, 2010 at 10:04 pm | Reply
  17. Eric G

    Although we here in Australia never had a recession, there certainly has been an economic slowdown. As a small business owner, we have seen some shrinkage of the business revenue, but not to a threatening level and it now seems to be returning to growth again..

    In our personal lives, we have not really been much affected. We have always been somewhat conservative in our spending, generally saving for our purchases and not extending our credit. Mortgage payments have been lower with the low interest rates, but they are gradually coming back up to what I would consider normal ranges.

    January 28, 2010 at 10:45 pm | Reply
  18. Adam

    I think you can blame globalization for the low paying jobs. It used to be that more of the money was concentrated in the United States while most of the rest of the world was living in squalor. Now, the rest of the world gets more of the wealth and Americans get some of the squalor right back in return. I don't expect that the government is going to be able to wave any magic wand to make this all go away. Most American's are just going to have to get used to living with less from now on. The guy who was making 100K+ before probably wasn't worth it anyway.

    January 28, 2010 at 11:12 pm | Reply
  19. Elsie O. Enfestan

    This is a symbiotic world we live in when one sell and another buys a certain product and all transactions done and been consumed is it but the responsibility of the buyer to pay what is due to the seller without delay?!
    A VERY SIMPLE QUESTION but very crucial in the success of the business whether big or small. Delaying the payment is detrimental to a small player! I hope big capitalist will reconstruct their mind frame towards giving opportunity for all.
    No entity in this world will survive unless there is no SYMBIOTIC RELATIONSHIP! or shall we say "IT TAKES TWO and TWO TO TANGO"

    January 29, 2010 at 12:27 am | Reply
  20. Justin

    NO.. find your calendar and flip it back to the year 2002, that’s the year when some economists say Michigan’s economy stopped growing. Flash forward to the year 2010, and you will find many people here trying to wrap their mind around public schools only having enough money to pay for a four day school week, and the states primary being exports of hot air from Lansing and unemployed college graduates. There isn’t enough space on this forum to explain how broken the economy is here and why it has been broke for so long.

    January 29, 2010 at 12:36 am | Reply
  21. Nukleng

    How can it be over? The debt is still there. The bail-outs just make the pain last longer. Hang a few politicians and teach them a lesson, so they don't do it again.

    January 29, 2010 at 1:09 am | Reply
  22. Adrian

    James January 26th, 2010 1652 GMT

    James.. You must be a very short sighted person to think there is no recession in Australia.. I don't know where you live, but Australia is a large place. I live in the far north and am experiencing the most difficult time my company has ever faced. Many company's and people have gone through a very tough time and lost everything they worked for. If there was no recession then why do we have an unemployment rate of almost 15%? Think before you speak and stop boasting about Australia as it does not know how to handle it's own situation.

    January 29, 2010 at 4:49 am | Reply
  23. Mike James

    I expect a double-dip recession or "w" curve.
    2010 will not be so good a year as some more optimistic economists have predicted. In fact, things will not pick up without more reform of the financial system. That means a more Keynesian approach to regulation and macro-management by government. Free traders won't like it, but it's the only medicine to cure the current malaise.

    January 29, 2010 at 7:36 am | Reply
  24. Peter

    How can i get a skype account?Alert me when it starts.

    January 29, 2010 at 8:12 am | Reply
    • philcnn

      Hi Peter – you can get a Skype account by visiting http://www.skype.com/magic and downloading the latest version. The live web chat will start at 1500 GMT. Thanks

      January 29, 2010 at 10:39 am | Reply
  25. Elie - (from Paris)

    Over! I was just hit by a shock wave from that recession. I’ll be loosing my job soon.

    January 29, 2010 at 10:29 am | Reply
  26. Jon

    Not here in Connecticut. 59 years old. Out of work 7 months and deep into the foreclosure process. Savings almost exhausted. College educated, excellent work record – now my credit is shot and I'm overwhelmed with a feeling of worthlessness. M y wife has to go on anti-anxiety medications because she's terrified of what's next. My sense is that Obama "gets" it, but has no one on Capitol Hill to work with towards a solution (if there even is a government solution possible). Doom and gloom in my house.

    January 29, 2010 at 1:49 pm | Reply

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