Isaac Paige Associates Chairman Believes the US Economy is on the Brink of a Depression

Seattle, WA, March 05, 2009 --(PR.com)-- Speaking from the Isaac Paige Associates corporate headquarters, in Seattle, Peter Matthews began his speech by saying “The trouble is, unlike recessions, which are easy to define, there are no firm rules for what makes a depression. Everyone at least seems to agree there hasn't been one since the epic hardship of the 1930s.” He continued by stating “With each new hard-times headline, most recently an alarming economic contraction of 6.2 percent in the fourth quarter, it seems more likely that the next depression is on its way.”

After pausing momentarily he continued his speech "We're probably in a depression now. But it's not going to be acknowledged until years go by because you have to see it behind you. No one disputes that the current economic downturn qualifies as a recession. Recessions have two handy definitions, both in effect now, two straight quarters of economic contraction, or when the National Bureau of Economic Research makes the call.”

Matthews went on to say “Declaring a depression is much trickier. By one definition, it's a downturn of three years or more with a 10 percent drop in economic output and unemployment above 10 percent. The current downturn doesn't qualify yet, 15 months old and 7.6 percent unemployment however, both unemployment and the 6.2 percent contraction for late last year could easily worsen.”

Isaac Paige Associates is highly respected within the financial community and has been providing accurate evaluations for over a decade. Isaac Paige Associates principals are actively involved in all aspects of the mergers & acquisitions evaluation process. Isaac Paige Associates provides responsive and personalized service to Institutions throughout the merger or acquisition including participation in syndication meetings to facilitate the decisions of the participating parties.

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