How Will You Remember 2008? Vote For TST’s Term Of The Year

When I pressed the mental rewind button on the year 2008, many words came to mind. ”Change” tops my list since it has saturated every form of media for what seems like an eternity!  

I decided to check Merriam-Webster’s Top Ten List for “Word of the Year” and four of those terms were in heavy Palin rotation: maverick, bipartisan, socialism and rogue.

Each word brings back memories, but financially speaking how will you choose to remember 2008?  

Place your vote for Talk Stock Trading’s “Term of the Year”

Term #1: BAILOUT – Too big to fail?  Ask the government to pay your bail!  A bailout is loosely defined as a financial rescue plan.  In 2008, the giants needed cash and they got it– courtesy of U.S. taxpayers. 

Term #2: RECESSION – It took economists eleven months to admit we were in one and it may take us another eleven to get out :( A recession is confirmed when an economy (as measured by GDP) shrinks for two consecutive quarters. The U.S. economy has been in a recession since December 2007.

Term #3: CREDIT CRUNCH – Anyone having trouble getting a loan lately? Perhaps you are a victim of the infamous credit crunch. A credit crunch is characterized by a lack of loan availability. The crunch started last year and has been crunching around the globe ever since.

Term #4: HOUSING MARKET MELTDOWN – Prices are down, foreclosures are up. According to the Mortgage Bankers Association, over one million American homes are in foreclosure. Celebrity foreclosures include Ed McMahon, Evander Holyfield Michael Jackson, and Jose Canseco.

Term #5: ECONOMIC STIMULUS – It was way back in February when Congress passed the Economic Stimulus Act of 2008. Rebate checks went out and hopes were high, but growth was hindered by tight credit, low consumer confidence and record high gas prices.

How’s that for a financial year in review? Place your vote now!

The TST poll is in the sidebar to your right under the “Subscribe by Email” box.