Though I doubt we’ll ever see it highlighted on Netflix, there has been an interesting film sub-genre emerging in the last few years. It might never be as prominent as the “Depression” era type of film (of which The Grapes of Wrath is the epitome), but in the last two years I’ve seen three films which could very well fall into the “Great Recession” genre. “Wall Street 2: Money Never Sleeps” and “The Company Men” are now joined by “Margin Call” in this genre (call it a financial drama if you want to define it more broadly), the last having been nominated for an Academy Award in original writing. That nomination is deserved, and I believe Margin Call to be the best of the three films, with The Company Men a close second.

Margin Call depicts the events, over a 24-hour period, at a fictional –and never named—brokerage, which discovers it is immensely over-levered with toxic mortgage debt. The firm’s brain trust gathers to figure a way out. Unlike Bear Stearns or Lehman Brothers, the firm realizes it’s in trouble ahead of anyone else and devises a way –a slightly unethical one—to survive.

At times, this movie had the feeling of a stage play. The locations are hardly more than boardrooms, offices, taxi cabs, and elevators, and there are a few soliloquies delivered. The writing is sharp, however, and though the sets are simple and the action little, the narrative and the characters are engaging throughout.

The cinematography is also compelling. Margin Call’s cast is quite recognizable: Demi Moore, Jeremy Irons, Kevin Spacey, Stanley Tucci, Zachary Quinto and Simon Baker. Though undoubtedly these stars had makeup applied for the film, the filmmakers seem to emphasize the vulnerability of the characters. Faces show cracks and crinkles and wear. The stress of the events and the lives these men and women lead does not leave them unblemished, and you can see that every time the camera lingers on a face.

If I had a criticism to make of this movie it would be that the characters all seem too self aware, as if they know they are going through the Great Recession. Every moment is dripping with portent, and these men and women behave in an a posteriori way when they should be more oblivious to what they are going through. In addition, they are all self-loathing. They like the money but seem to hate the lives they lead. They are soulless husks, which may be the belief filmmakers have about people in finance but is something that strikes me as unfair. Stocks, bonds, commodities, and other instruments get traded, and because of this interchange medical research, education, technology, and a vast array of other fields benefit. In bad times, everything takes a hit, but the general trend is upward, and I’m not sure most financiers, traders, and analysts view themselves the way the characters in Margin Call do, even when things go wrong.

That gripe aside, I thoroughly enjoyed this movie. It probably won’t achieve the legendary status the original Wall Street did and it doesn’t have that outrageous tone that made Boiler Room one of the best financial films of the last twenty years, but Margin Call is definitely worth seeing before the closing bell sounds.

CORK, Ireland — For more than a decade, a shady troika of bankers, developers and government ministers stood watching the simmering cauldron of the Irish economy, and stirred it very deliberately. So, when Lehman Brothers filed for bankruptcy in 2008, it shuddered across the Atlantic and knocked the rickety legs from under our economy, proving the saying that when America sneezes, Ireland catches a cold. Maybe it’s a little dramatic to say this, but watching the news reports of the country’s downfall over the last three years has been a bit like watching the collapse of the World Trade Center in slow-mo. You’re stunned, you know it’s bad, you know it’s going to happen. You watch the whole thing crash and there’s nothing you can do about it: Unemployment. Downgraded credit ratings. Nationalizations. Guarantees. Loans from the European Central Bank. Scramble budgets. And then, after all that, the International Monetary Fund steps in with $120 billion to bail us out. Bang. Rock bottom—we hope.

Ireland's standardized unemployment rate by percentage. (Source: Eurostat, via European Central Bank Statistical Data Warehouse)

The nation seems to be holding its breath today while a stress test of the banking system is undertaken. The way it’s being covered in the media makes it seem like the sort of thing that could yet transform every depositor into Jane and Michael Banks demanding their tuppence. The whole thing has been such an exhausting marathon of twists, turns and revelations that many of the nasty by-products of financial ruin have gone under the radar.

With so much talk of the numbers, cuts and taxes, you start to forget what it means in human terms. You forget that a slashed health budget means fewer beds or fewer nurses. You forget that unemployment means emigration. After three years of a bruising recession, you’re so frazzled by the terminology and the growing number of zeros that we owe to Germany that you simply don’t have the wherewithal to remember why you’re doing what you’re doing.

Given that this is the nation’s third time sending large swarms of Irish people packing, you could say we’re getting used to it now. Granted, it’s not as acute now as it was during the Great Famine of 1845, which resulted in 2.1 million people leaving the country by 1855, according to the Irish Times. But the statistics now are about to equal the bleak era of the 1980s, a decade that saw an 18 percent unemployment rate by 1989 and the exodus of 500,000 people, according to the Irish Times. In 2010, 65,000 people left the country, compared to 70,600 in 1989. And now, with Eurostat data reporting unemployment at 15 percent, the Economic Social Research Institute predicts a net outflow of 50,000 more people over the next year. Year-for-year across the decades, that figure puts us just about on-course to repeat our statistical feats.

We’re getting used to it now, reverting to the “Paddy Irish” type, I suppose. “Poor but happy,” some people like to say, as if economic success were a suit that never really fit and we are now returning to the familiar rags of our national upbringing. But I’m not buying it. I untangle the mess of earphone and Webcam wires, and yawn off the tiredness of the idle day. What am I doing again? Why am I doing it?

Ah, yes. With the help of three albums’ worth of Iron and Wine, I’m whiling away the five-hour time difference between Ireland and D.C. My best friend is interning there. She commutes, I type. Maybe we both hum along to “Southern Anthem” and whittle the clock down. A narrow window of opportunity in the 3,000-mile distance is about to make itself available; that rare time when she is not working and I am not sleeping or vice versa. This is the stuff that gets lost. I’m not so desperate that this recession is making me lonely. But with most of my friends more likely to be making a living in Uganda than Ireland, I have to admit that it’s getting a little barren and boring for me here. I feel like I’m the only one left. I don’t laugh anymore when I see the “Will the last graduate left in Ireland please turn off the light” Facebook page pop up on my news feed. I admit, I’m not the most gregarious of individuals and this probably hasn’t helped my case. In Ireland, shyness and sobriety do not a social network make.

Nevertheless, I feel slightly robbed. We were the first generation of Irish people who grew up with the warm and unwavering promise that we would never have to leave. And so we grew up, unprepared, only to get smacked mid-degree with a hefty layer cake of governmental corruption, incompetence and economic failure.

This is not a whinge for the country’s 20-somethings. We know it could be a lot worse. We know we could be 30-something, unemployed, with a rake of kids and a sub-prime mortgage. Or worse still, employed and footing the lengthy bill. And we know that emigration in 2011 is not the sobering and unglamorous affair that it was in the ‘80s. It’s not busloads of pasty Irish whelps queuing forlornly for boats to Holyhead, North Wales or flights to Boston’s Logan Airport. We arrive on foreign shores pre-Fitch’d and almost tanned enough to blend in. We’re globalised enough to shut our eyes, ride it out, and label it a bit of “craic.” Still, it goes against the grain to leave your home. My friend summed it up succinctly when she said, “You know, I always knew I would have to travel to pursue my ambitions. But I hate that it wasn’t on my own terms.” And right she is. There is a severe enough distinction between leaving your home and being evicted from it because you can’t pay the rent—and no amount of Abercrombie sweaters or bottles of St. Tropez can stifle that particular sting.

And so, here we are; bleary eyed and more tired for our age than we would truly like to admit. I look at my watch. The narrow window of opportunity opens and through Google Voice I converse with my friend for nearly two hours. We laugh about friends and sex. And then we talk about jobs. How is the internship going? What do things look like at home? Who is where? They’re in Seattle, Vancouver, Sydney, London. Certainly not Ireland. We lament the situation we have been shoehorned into.

The choices for emerging graduates are stark. You can stay and fill out the long application forms for social welfare payments and paper the streets with your resumé in the hope that something sticks. Or you can leave. Because the biggest problem is not the lack of jobs (although it’s hardly a reason to celebrate), it’s the lack of anything. Last September, I moved to Manhattan to do a three-month unpaid internship. It was an incredible experience and I gained so much from it, both professionally and personally. But the sheer insanity of borrowing money to work for nothing epitomises the sort of outlandish rabbit-hole that the Irish people have been pushed into.

And that’s why people are emigrating. Not only is it nigh on impossible to get a salaried job, it’s also impossible to get work experience or internships. Facing a future of meagre state payments and the slow rot of their academic skills, graduates turn instead to visa applications. They uproot their whole lives just to feel what it might be like to have a career. I read New York Times articles about 28-year-old law students who are “stuck” doing yet another internship, and I envy them. There is no such innovation on this side of the pond.

You could’ve knocked out George Foreman with the accumulated volume of newspaper reports and television programmes that have gleefully attacked the government and senior bank officials since this crisis began. I wouldn’t for one moment relent in pointing the finger at those gluttonous fat-cats who landed us in this endless mess, but there is a distinct failure of industry too, particularly in the media.

Let’s not forget that during the property boom, most national newspapers in Ireland fed into the fever pitch with large property supplements. And now that it has gone bust and they are busy playing the blame game, they are happy to ignore the thousands of graduates who come knocking on the door seeking not jobs, just the opportunity to learn and contribute. Here I am, the case in point, more likely to write for a publication located 3,000 miles away than I am to write for one located just three miles away. Ireland’s small publishing industry makes no effort to accommodate the youth that might yet keep it going. There are swathes of state and semi-state bodies that largely seem to snub our language students at a time when their skills might be most advantageous, especially when you consider how much we must parlay with Sarkozy, Merkel, et al. And what about those pharma companies who have had to make staff redundant to reduce their costs? Wouldn’t they benefit from a couple of chemical engineering interns? We score poorly in mathematics compared to our European colleagues. Is there an opportunity there for some unemployed graduates with the requisite qualification? Do we give our artists a strong network? A forum for aspiring writers? No.

And I’m not convinced by the new coalition’s guff about reinventing Ireland and creating opportunities for young people. They, too, are so entranced by the debt clock that the billions of euros that were invested in education are continuing to trickle steadily out of the country. Implementing some sort of short-term stopgap is simply not on the top of anyone’s list. It’s ironic because when national debt is weighing in at the euro equivalent of nearly $140 billion in such a small country, or about $31,000 per citizen, it seems like you might want to hang on to as many people as possible to help shoulder the deficit in the long term. Right?

It is no secret that today’s job market is struggling. Some of those lucky enough to have a decent job are finding that their work load is going up while their salaries are staying the same, and bonuses are disappearing. With a 12 percent unemployment rate in Florida, according to the US Department of Labor, those out of work are lining up to step in and fill your job if you decide to make a fuss and start proclaiming that it’s “unfair” and posting quotes from Ayn Rand’s novel “Atlas Shrugged” in the break room. As companies streamline their bottom line by cutting budgets and leaning heavily on their bases, it is no surprise that many people are hitting the classifieds and online job postings in search of their dream job and a little reprieve. However, after the first couple days on the hunt, it is clear that many leads are dead ends or some form of a bait and switch. Disillusion creeps in and that dream job landing in your lap starts to feel further out of reach.

I moved to south Florida to work in the event production industry and, over the past four years, have worked for some great companies and done some exciting events. Miami is known for its great weather and outdoor lifestyle, so it is a good bet that any given weekend will provide a number of events, both local and national. Beaches, venues, parks, amphitheaters and other attractions bring plenty of action our way and also support many local jobs. Although I have always enjoyed my work, it does carry the same frustrations and glass ceiling found in any other industry. Maybe I am just impatient and my “show your worth through your work” attitude has not set me up for the slow and steady pace of the corporate ladder, but I find myself longing for something exciting and new, a company poised atop a unique niche within the industry. It is, after all, human nature to strive for the next level and seek out the “best of the best.” For me, that dream job is with a company bold enough to take risks and nurture fresh ideas. And guess what? Last fall one such company fell in my lap.

A friend in Chicago tipped me off to a company his law firm had worked with called Red Frog Events. They are relatively young, currently entering their fourth year, and produce some of the fastest growing events around. In my last article I wrote about one of their events called The Great Urban Race, a traveling urban scavenger hunt hitting cities nationwide, and coming to Miami this March. Their other two events, Beach Palooza and Warrior Dash, round off a trio of home-run productions, putting them in a position of quick and exponential growth worldwide. After checking out the Red Frog Events website, I was drawn to the “world’s best benefits” tab. Red Froggers are privy to a number of perks: amazing health, dental, life and vision insurance, unlimited vacation days, $100 monthly cell phone reimbursement, free food, drinks and beer, a fully paid four week vacation for you and a friend to Europe, Asia, Africa or Australia, a free birthday massage, a $1,000 match to your favorite charity, and more. It was instantly clear that a job with them would be both rewarding and fun. So, after taking all this in, I was smitten to learn that they are hiring! Every three to four months they bring on a group of interns known as event coordinators to dive right in to their day-to-day activities and learn the ins and outs of event production at their very own Camp Red Frog in Chicago. The only way to get a full-time gig with them is by completing this internship, so I had found my “in” and got right to work getting my foot in the door.

Last October, I sent in my resume, cover letter, and even a YouTube video I made (the position is very sought after so bringing your A-game is a must!) and held my breath. A week later I got a call from their office to set up a phone interview. They receive over 100 applications a day, so this is a big accomplishment. After that goes well, I am informed that I made it to the two percent of people who are offered an in-person interview. A quick call to an old roommate who lives two miles away from their downtown Chicago office confirms that there is a spare bedroom at her place I could use if need be. I book my flight, call my family and try to tame my excitement as I wait for my big day.

The morning of my interview starts with some strong coffee and a glance over my notes before heading up to the fifth floor of their office. My feeling at this moment is comparable to the type of awe you see in the eyes of a child. Standing there off the elevator I felt like Charlie gripping his golden ticket at the gates of the chocolate factory. I was beckoned through a pair of double glass doors complete with hand-carved red frog handles and immediately start to take in the ambiance of the office. Straight ahead are a couple of cubicles with RipStik boards and Nerf guns strewn across the daily calendars. The intern work space is shaded by two giant trees sprouting from the wood floors to the high ceiling amongst lily pad-shaped light fixtures. Past the trees is the centerpiece of Camp Red Frog: the tree house. Complete with rope ladders, a slide, and Fatboy bean bag chairs, the tree house serves as a conference room.

Before the interview I am led on a short tour. As we start, I am led past a projected image of a map listing all their upcoming events. Recently added to their lineup are events in London and Australia. I am led passed a rock climbing wall, a fire pit and a giant stuffed bear; but don’t worry animal lovers, it’s not a real bear. Last stop before my interview is the kitchen, complete with a soda fountain, free cans of Red Bull, a beer keg (yes, you can enjoy a beer while working!) and tons of snacks for the taking.

Finally I arrive at a corner room complete with a conference table made entirely out of Lego bricks with a big Red Frog logo in the center. I am greeted by both Ryan Kunkel and Joe Reynolds, the founder and vice president of the company. Their titles are of course more unique: Joe is the architect of adventure and Ryan is the master of monkey business. Although I have many years of experience in event production and have the personality that seems to fit the company culture, I am quietly reflecting on the weight this interview will have on me. I am thinking about my frustrations with trying to navigate through a barren job market and how gratifying this job would be for me. In the few seconds it takes me to sit down and greet them both, I find myself envisioning the life of a Red Frogger. I can see myself as a well accomplished and valued member of this smart and innovative company, spending my days hard at work in this beautiful office as I sip draft beer and watch other fresh faced applicants make their pilgrimage from all over the United States to those double glass doors as I did so many years ago. I pull my head out the clouds and dive right into securing my place here by acing this interview.

I don’t want to give away the questions asked inside that room, but I will mention that some of them were unusual. This is no surprise, nor is it a problem. While preparing for the interview, I did not saturate my notes with the cut-and-paste answers you might find in a “How to get through an interview for dummies” book. I wanted to stay loose and expect the unexpected. However, after a while I can’t help but notice an inner dialogue threatening to shake my focus. Will not getting this job mean I failed? What about the friends who know how badly I want this? If I don’t get it, what will I say to my family and loved ones whom I so desperately want to make proud? I start to change strategy mid-interview and second-guess all my answers. I am thinking mid-question about what might be the answer they want to hear instead of being myself. It is a classic mistake, and I found my nerves sabotaging my original plan of attack. Those little cracks in the foundation can really shake your resolution if you let them, which I did. I shifted to auto-pilot and did not shine the way I had anticipated.

I am answering the question, “What sets you apart from the other applicants?” and I can’t even remember what I just said. Instead, I am watching their reactions, wondering what they are writing down in their folders. Do they see the real me behind this semi-formal shell? Can’t we just grab a couple beers and spend an hour at the corner pub where I can display my infectious charm and wit? I’m wondering how I would judge me if I were them. Did I misjudge what to wear? Am I coming across as desperate? Am I desperate? Are they putting big check marks and smiley faces next to my name or a big, fat X?

The interview ends and we exchange firm handshakes, gracious smiles and warm wishes for the upcoming New Year. I leave the conference room strong, hoping my facade did not give away any signs of the subconscious mutiny I had just endured.  As I gather my things and prepare to head back into the cold Chicago air, I pause to take stock of myself.  I want to run back there, tell them all the things that I forgot, re-answering the questions with the home run responses that have instantly popped in my head. Instead, I pass back through the double glass doors and down towards the ground floor, wondering how many others applicants will share the same anxiety and lament in this very elevator.

A week later I received an email letting me know they chose another candidate for the position. Bummer, but I was kind of expecting it. I thanked them for the opportunity and wished them well, with a postscript that I would love to be considered for future positions if and when they open up. In retrospect, it kind of felt like offering my number to the girl who had turned it down the night before. At this point I am back in Miami getting back into the swing of things with work and preparing for the night’s New Years Eve party. The year 2010 is just hours away from being behind me and, surprisingly, I feel great. As the ball drops I am at a house party at the Cloisters in coconut grove, standing on the roof of a condo and watching the fireworks shimmer over Biscayne Bay. All around me are people I love, people who love me for being the person always there to cheer them up with humor or a good story. I realize that the tragedy I thought I had endured was no more than a noble shot in the dark with a company that gave me a great interview experience and an optimistic perspective for the new year.

Two weeks after hearing about the company, I had secured an interview granted to only the top two percent of applicants. If I can get such a positive response from seeking out my own job prospects instead of wading though the same old job posts I find only semi-worthwhile, then perhaps sitting around and waiting for opportunity to find me was not the right approach. With a little refinement and leg work, I am sure 2011 will be the year I utilize this seek-and-employ attitude with other great companies.

The job hunt is a race not unlike those put on by Red Frog Events. You must challenge yourself, take some risks, put on your best warrior face and aim for the finish line. As the last of the fireworks explode across the water, I raise a glass to my fellow Miamians and drink to high hopes, broad perspectives and endurance on the battlefield.

Green groups are relying increasingly on volunteers to get by as contributions and grants have dried up during the economic downturn. Here two volunteers volunteer last election day at the polls, trying to get petition signatures to persuade Congress to make climate change a priority.

Non-profits of every stripe have been suffering from the economic downturn. In a recent survey of 800 U.S.-based non-profits, 75 percent reported feeling the effects of the downturn, with more than half already experiencing significant cuts in funding from both government and private foundation sources.

According to a recently released report from Civic Enterprises and the Democratic Leadership Council entitled “Quiet Crisis: The Impact of the Economic Downturn on the Nonprofit Sector” few of these groups have strong reserves to weather the downturn”"more than half have less than three months of operating funds on hand, while three-quarters cannot make it six months on existing cash reserves.

And the outlook is not promising. The Chronicle of Philanthropy, which reports on trends in grantmaking, says that foundation assets have declined by some 28 percent following the economy’s nosedive; two-thirds of them expect to have reduced grants significantly by the end of 2009. Many grantmakers have, in fact, suspended grants altogether for the time being.

Despite their funding troubles, many environmental groups continue to provide core services. According to the Environmental Grantmakers Association (EGA), many cash-strapped groups are adapting by using more volunteers to get their work done, and actively seeking partnerships with other groups in order to make the most of limited resources and share overhead costs. And, of course, many green groups have cut costs through hiring freezes, layoffs and forced reductions in pay and hours for existing employees.

To Mark Tercek, president of the non-profit Nature Conservancy, the silver lining in the funding crisis for green groups is that it forces them to operate more efficiently and focus on core priorities: “Non-profits”¦have to be smart about adjusting to a tougher economic environment, including setting priorities” he says. “If resources are going to be constrained”¦then organizations have to ask the questions: “ËœWhat are we really best at? What are we uniquely positioned to do?’” Tercek adds that the recession also provides an “opportunity to connect the economic stimulus to environmental matters.”

And that’s just what the Obama administration hopes to do. By encouraging development of green technologies and services, the federal government aims to leverage environmental progress for an overall economic benefit. Most federal funding will go toward incentives for businesses and homeowners to adopt greener ways, but green groups with related expertise are in a good position to benefit as well.

Another boost for green groups could come if Congress passes the Edward M. Kennedy Serve America Act, which aims to flood non-profits with some 250,000 volunteers each year in a program akin to the Peace Corps but on the domestic front. Non-profits are also seeking changes to the federal tax code to further encourage corporate, foundation and individual donations.

Michael Moore, known for his documentaries “Bowling for Columbine” an “Fahrenheit 9/11,” is working on a new title.

“Capitalism: A Love Story,” will open October 2.

Distributor Overture Films told the Associated Press that “Capitalism examines the disastrous effects of corporate profiteering.”

“It will be the perfect date movie,” Moore said in a statement. “It’s got it all “" lust, passion, romance and 14,000 jobs being eliminated every day. It’s a forbidden love, one that dare not speak its name. Heck, let’s just say it: It’s capitalism.”

Moore is an Academy Award winning filmmaker. “Fahrenheit 9/11″, an indictment of the Bush white house, grossed more than $100 million.

(ARA) — The days of frivolous spending habits have passed. We’ve managed to admit we’re in a recession, but how exactly do we shop — both for pleasure and for necessities — during these hard economic times?

The ways to save money these days are countless and living on a tight budget is not as difficult as it seems. Here are some tips to stay budget-friendly and become a recession-style shopper:

Make a List

The luxury of roaming around a department store or strolling through a mall is wonderful, but that can only lead to unnecessary purchases. Before you set out on your shopping trip, decide what exactly it is you want or need. No matter how large or small the item, making a list will keep your shopping fixed and focused.

Cut back on driving

Once you’ve established what you need to buy, plan a driving route for your shopping outing. Establish where you’re going, in what order and do a little research to find out the quickest way to get there. Gas prices may be on the decline for now, but who knows what will happen in the future. Be strategic with your transportation and better yet, ask a friend to carpool.

Purchase online

Everything found in brick and mortar stores can be bought online, often for less.

Never shop hungry

When it comes to grocery shopping, shopping on an empty stomach can empty your wallet pretty fast. Make sure to have a snack before heading out. Roaming up and down food aisles will lead to impulse grocery spends. Not only will having a snack make your tummy a little more full, you’re sure to be saving a few calories as well by skipping the pint of ice cream. It’s always a good idea to keep a box of granola bars (or an alternative healthy snack) in the car for emergency situations.

Courtesy of ARAcontent

It’s been creeping behind Americans for many months, like a slow moving hurricane blowing winds of bankruptcy and foreclosure. ‚ On a day when the Dow Jones lost almost eight per cent, the‚ National‚ Bureau of Economic Research (NBER) officially announced that the U.S. has been in a recession since December 2007, according to the New York Times. ‚ 

Many investors have long said the country was in a recession, despite last week’s monumental gains. ‚ The NBER had been‚ reluctant‚ to officially‚ announce‚ the recession in hopes of an economic turnaround.

However on Monday, the losses were staggering. ‚ Large financial firms led the downturn; Wall Street watched as Merrill Lynch, Citigroup and Morgan Stanley dropped almost 20 per cent.

The NBER did not have a length estimation for this‚ particular‚ recession, however did declare that a typical recession can last anywhere from six to 18 months, reports the Associated Press.

“Recession fears have now become a reality, and the questions that remain are just how bad and for how long this recession will linger over us,” said‚ Michael Fowlkes, analyst at Investor’s Observer, according to AP. ‚ ”So far in 2008, employers have slashed 1.2 million jobs, and the bad news is expected to continue when we get employment data for November this Friday.”

Analysts‚ at the NBER‚ agree that even with a substantial stimulus package, unemployment in the U.S. will likely reach an astonishing nine per cent by 2010. ‚ That’s almost a five per cent increase from the 2007 estimated unemployment rate of 4.4 per cent.

Federal Reserve Chairman‚ Ben Bernake told press that the economy‚ ”will probably remain weak for a time.” ‚ He also said that the Fed could possibly begin buying up Treasury securities in an effort to spur growth, a highly unusual move.

The last time the U.S. was in a recession was March through November 2001. ‚ If this recession lasts longer than five more months, it would be the longest since the Great Depression of the late 20′s and 30′s.

“It is clearly not going to end in a few months”‚ said NBER‚ committee‚ member Jeffrey Frankel, confirming that Americans could face even harder times ahead.