RT Journal Article SR Electronic T1 Resonating Recession, Joyless Recovery JF Turnaround Management FD Institutional Investor Journals SP 35 OP 41 VO 2004 IS 1 A1 Benjamin J. Douek YR 2004 UL http://guides.pm-research.com/content/2004/1/35.abstract AB By many accounts, the economy appears to be recovering from the recession, but defaulted debt in 2004 will probably exceed the levels of the 1990–1991 recession. In this article Benjamin J. Douek cites and explores historical and current economic data—bond default rates, bankruptcy levels, lending practices of banks, consumer debt, and unemployment—to explain how this recession and recovery are different than those of the past (and different than our perceptions of them), their impact on the health and direction of our economy, and why things aren't quite as positive as everybody seems to think. In addition, he addresses how these differences will impact the future of the turnaround and restructuring industry.