Global climate change over the past century has resulted in the dramatic recession of glaciers throughout the world, particularly in the subtropical Andean ranges of South America.
Obama also appointed a stellar group of science advisors and invested in scientific infrastructure and scientific research as part of his economic stimulus package following the dramatic recession of 2007.
But by last year the numbers had dropped to 8 million and – for a country that gains three quarters of its income from visitors who come to shop, ski or do both – that has brought a dramatic fall into recession.
"All this would imply deep recession, a dramatic decline in income levels, an exponential rise in unemployment and a collapse of all that the Greek economy has achieved over the years of its EU, and especially its euro area, membership," it said.
In the past year, Mr. Just said, the recession caused a dramatic slow-down in new building permits, but sales volumes and prices have held steady in the country as a whole.
Given that Americans have $20 trillion of housing wealth, a 10% price drop could easily halve the pace of consumer spending growth, sending the economy perilously close to recession.Such a dramatic drop in national house prices this year is possible, but not yet probable.
The Great Recession caused a dramatic drop in state revenues and shrunk local tax collections and expectations for state aid.
But on the positive side, the recent recession has not caused a dramatic effect on income or poverty rates as did the recessions of the early 1980s or early 1990s both of which saw the number of poor shoot up.
When the recession led to a dramatic decline in tax revenues, these governments had to make deep cuts to spending.
In the past few years, Americans have grown slightly less rich, and the recession has had a dramatic effect on immigration.
