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In economics, a recession is a business cycle contraction, a general slowdown in economic activity.^[1][2] Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise.

Recessions generally occur when there is a widespread drop in spending, often following an adverse supply shock or the bursting of an economic bubble. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.

Definition[link]

In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for defining a recession, one of which was "two down consecutive quarters of GDP".^[3] In time, the other rules of thumb were forgotten. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months.^[4]

In the United States, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) is generally seen as the authority for dating US recessions. The NBER defines an economic recession as: "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."^[5] Almost universally, academics, economists, policy makers, and businesses defer to the determination by the NBER for the precise dating of a recession's onset and end.

In the UK recessions are generally defined as 2 successive quarters of negative growth (or 6 months).^[6]

Attributes[link]

This section requires expansion.

A recession has many attributes that can occur simultaneously and includes declines in component measures of economic activity (GDP) such as consumption, investment, government spending, and net export activity. These summary measures reflect underlying drivers such as employment levels and skills, household savings rates, corporate investment decisions, interest rates, demographics, and government policies.

Economist Richard C. Koo wrote that under ideal conditions, a country's economy should have the household sector as net savers and the corporate sector as net borrowers, with the government budget nearly balanced and net exports near zero.^[7][8] When these relationships become imbalanced, recession can develop within the country or create pressure for recession in another country. Policy responses are often designed to drive the economy back towards this ideal state of balance.

A severe (GDP down by 10%) or prolonged (three or four years) recession is referred to as an economic depression, although some argue that their causes and cures can be different.^[4] As an informal shorthand, economists sometimes refer to different recession shapes, such as V-shaped, U-shaped, L-shaped and W-shaped recessions.

Type of recession or shape[link]

The type and shape of recessions are distinctive. In the US, V-shaped, or short-and-sharp contractions followed by rapid and sustained recovery, occurred in 1954 and 1990–91; U-shaped (prolonged slump) in 1974–75, and W-shaped, or double-dip recessions in 1949 and 1980–82. Japan’s 1993–94 recession was U-shaped and its 8-out-of-9 quarters of contraction in 1997–99 can be described as L-shaped. Korea, Hong Kong and South-east Asia experienced U-shaped recessions in 1997–98, although Thailand’s eight consecutive quarters of decline should be termed L-shaped.^[9]

Psychological aspects[link]

Recessions have psychological and confidence aspects. For example, if the expectation develops that economic activity will slow, firms may decide to reduce employment levels and save money rather than invest. Such expectations can create a self-reinforcing downward cycle, bringing about or worsening a recession.^[10] Consumer confidence is one measure used to evaluate economic sentiment.^[11] The term animal spirits has been used to describe the psychological factors underlying economic activity. Economist Robert J. Shiller wrote that the term "...refers also to the sense of trust we have in each other, our sense of fairness in economic dealings, and our sense of the extent of corruption and bad faith. When animal spirits are on ebb, consumers do not want to spend and businesses do not want to make capital expenditures or hire people."^[12]

Balance sheet recession[link]

The bursting of a real estate or financial asset price bubble can cause a recession. For example, economist Richard Koo wrote that Japan's "Great Recession" that began in 1990 was a "balance sheet recession." It was triggered by a collapse in land and stock prices, which caused Japanese firms to have negative equity, meaning their assets were worth less than their liabilities. Despite zero interest rates and expansion of the money supply to encourage borrowing, Japanese corporations in aggregate opted to pay down their debts from their own business earnings rather than borrow to invest as firms typically do. Corporate investment, a key demand component of GDP, fell enormously (22% of GDP) between 1990 and its peak decline in 2003. Japanese firms overall became net savers after 1998, as opposed to borrowers. Koo argues that it was massive fiscal stimulus (borrowing and spending by the government) that offset this decline and enabled Japan to maintain its level of GDP. In his view, this avoided a U.S. type Great Depression, in which U.S. GDP fell by 46%. He argued that monetary policy was ineffective because there was limited demand for funds while firms paid down their liabilities. In a balance sheet recession, GDP declines by the amount of debt repayment and un-borrowed individual savings, leaving government stimulus spending as the primary remedy.^[7][8][13]

Liquidity trap[link]

A liquidity trap is a Keynesian theory that a situation can develop in which interest rates reach near zero (ZIRP) yet do not effectively stimulate the economy. In theory, near-zero interest rates should encourage firms and consumers to borrow and spend. However, if too many individuals or corporations focus on saving or paying down debt rather than spending, lower interest rates have less effect on investment and consumption behavior; the lower interest rates are like "pushing on a string." Economist Paul Krugman described the U.S. 2009 recession and Japan's lost decade as liquidity traps. One remedy to a liquidity trap is expanding the money supply via quantitative easing or other techniques in which money is effectively printed to purchase assets, thereby creating inflationary expectations that cause savers to begin spending again. Government stimulus spending and mercantilist policies to stimulate exports and reduce imports are other techniques to stimulate demand.^[14] He estimated in March 2010 that developed countries representing 70% of the world's GDP were caught in a liquidity trap.^[15]

Predictors[link]

Although there are no completely reliable predictors, the following are regarded to be possible predictors.^[16]

• Inverted yield curve,^[17] the model developed by economist Jonathan H. Wright, uses yields on 10-year and three-month Treasury securities as well as the Fed's overnight funds rate.^[18] Another model developed by Federal Reserve Bank of New York economists uses only the 10-year/three-month spread. It is, however, not a definite indicator;^[19]
• The three-month change in the unemployment rate and initial jobless claims.^[20]
• Index of Leading (Economic) Indicators (includes some of the above indicators).^[21]
• Lowering of asset prices, such as homes and financial assets, or high personal and corporate debt levels.

Government responses[link]

This section requires expansion.

Most mainstream economists believe that recessions are caused by inadequate aggregate demand in the economy, and favor the use of expansionary macroeconomic policy during recessions. Strategies favored for moving an economy out of a recession vary depending on which economic school the policymakers follow. Monetarists would favor the use of expansionary monetary policy, while Keynesian economists may advocate increased government spending to spark economic growth. Supply-side economists may suggest tax cuts to promote business capital investment. When interest rates reach the boundary of an interest rate of zero percent conventional monetary policy can no longer be used and government must use other measures to stimulate recovery. Keynesians argue that fiscal policy, tax cuts or increased government spending, will work when monetary policy fails. Spending is more effective because of its larger multiplier but tax cuts take effect faster.

Stock market[link]

Some recessions have been anticipated by stock market declines. In Stocks for the Long Run, Siegel mentions that since 1948, ten recessions were preceded by a stock market decline, by a lead time of 0 to 13 months (average 5.7 months), while ten stock market declines of greater than 10% in the DJIA were not followed by a recession.^[22]

The real-estate market also usually weakens before a recession.^[23] However real-estate declines can last much longer than recessions.^[24]

Since the business cycle is very hard to predict, Siegel argues that it is not possible to take advantage of economic cycles for timing investments. Even the National Bureau of Economic Research (NBER) takes a few months to determine if a peak or trough has occurred in the US.^[25]

During an economic decline, high yield stocks such as fast moving consumer goods, pharmaceuticals, and tobacco tend to hold up better.^[26] However when the economy starts to recover and the bottom of the market has passed (sometimes identified on charts as a MACD^[27]), growth stocks tend to recover faster. There is significant disagreement about how health care and utilities tend to recover.^[28] Diversifying one's portfolio into international stocks may provide some safety; however, economies that are closely correlated with that of the U.S. may also be affected by a recession in the U.S.^[29]

There is a view termed the halfway rule^[30] according to which investors start discounting an economic recovery about halfway through a recession. In the 16 U.S. recessions since 1919, the average length has been 13 months, although the recent recessions have been shorter. Thus if the 2008 recession followed the average, the downturn in the stock market would have bottomed around November 2008. The actual US stock market bottom of the 2008 recession was in March 2009.

Politics[link]

Generally an administration gets credit or blame for the state of economy during its time.^[31] This has caused disagreements about when a recession actually started.^[32] In an economic cycle, a downturn can be considered a consequence of an expansion reaching an unsustainable state, and is corrected by a brief decline. Thus it is not easy to isolate the causes of specific phases of the cycle.

The 1981 recession is thought to have been caused by the tight-money policy adopted by Paul Volcker, chairman of the Federal Reserve Board, before Ronald Reagan took office. Reagan supported that policy. Economist Walter Heller, chairman of the Council of Economic Advisers in the 1960s, said that "I call it a Reagan-Volcker-Carter recession.^[33] The resulting taming of inflation did, however, set the stage for a robust growth period during Reagan's administration.

Economists usually teach that to some degree recession is unavoidable, and its causes are not well understood. Consequently, modern government administrations attempt to take steps, also not agreed upon, to soften a recession.

Impacts[link]

Unemployment[link]

The examples and perspective in this article deal primarily with the United Kingdom and do not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page. (August 2011)

The full impact of a recession on employment may not be felt for several quarters. Research in Britain shows that low-skilled, low-educated workers and the young are most vulnerable to unemployment^[34] in a downturn. After recessions in Britain in the 1980s and 1990s, it took five years for unemployment to fall back to its original levels.^[35] Many companies often expect employment discrimination claims to rise during a recession.^[36]

Business[link]

Productivity tends to fall in the early stages of a recession, then rises again as weaker firms close. The variation in profitability between firms rises sharply. Recessions have also provided opportunities for anti-competitive mergers, with a negative impact on the wider economy: the suspension of competition policy in the United States in the 1930s may have extended the Great Depression.^[35]

Social effects[link]

The living standards of people dependent on wages and salaries are more affected by recessions than those who rely on fixed incomes or welfare benefits. The loss of a job is known to have a negative impact on the stability of families, and individuals' health and well-being.^[35]

History[link]

Global[link]

There is no commonly accepted definition of a global recession, although the International Monetary Fund (IMF) regards periods when global growth is less than 3% to be global recessions.^[37] The IMF estimates that global recessions seem to occur over a cycle lasting between 8 and 10 years.^{[citation needed]} During what the IMF terms the past three global recessions of the last three decades, global per capita output growth was zero or negative.^[38]

Economists at the IMF state that a global recession would take a slowdown in global growth to three percent or less. By this measure, four periods since 1985 qualify: 1990–1993, 1998, 2001–2002 and 2008–2009.

United Kingdom[link]

The most recent recession to affect the United kingdom was the late-2000s recession.

United States[link]

This section duplicates, in whole or part, the scope of other article(s) or section(s). Please discuss this issue on the talk page and conform with Wikipedia's Manual of Style by replacing the section with a link and a summary of the repeated material, or by spinning off the repeated text into an article in its own right.

According to economists, since 1854, the U.S. has encountered 32 cycles of expansions and contractions, with an average of 17 months of contraction and 38 months of expansion.^[5] However, since 1980 there have been only eight periods of negative economic growth over one fiscal quarter or more,^[39] and four periods considered recessions:

• July 1981 – November 1982: 14 months
• July 1990 – March 1991: 8 months
• March 2001 – November 2001: 8 months
• December 2007 – June 2009: 18 months^[40][41]

For the past three recessions, the NBER decision has approximately conformed with the definition involving two consecutive quarters of decline. While the 2001 recession did not involve two consecutive quarters of decline, it was preceded by two quarters of alternating decline and weak growth.^[39]

Late 2000s[link]

Official economic data shows that a substantial number of nations are in recession as of early 2009. The US entered a recession at the end of 2007,^[42] and 2008 saw many other nations follow suit. The US recession of 2007 ended in June, 2009^[43] as the nation entered the current economic recovery.

United States[link]

The United States housing market correction (a possible consequence of United States housing bubble) and subprime mortgage crisis has significantly contributed to a recession.

The 2008/2009 recession saw private consumption fall for the first time in nearly 20 years. This indicates the depth and severity of the current recession. With consumer confidence so low, recovery will take a long time. Consumers in the U.S. have been hard hit by the current recession, with the value of their houses dropping and their pension savings decimated on the stock market. Not only have consumers watched their wealth being eroded – they are now fearing for their jobs as unemployment rises. ^[44]

U.S. employers shed 63,000 jobs in February 2008,^[45] the most in five years. Former Federal Reserve chairman Alan Greenspan said on 6 April 2008 that "There is more than a 50 percent chance the United States could go into recession."^[46] On 1 October, the Bureau of Economic Analysis reported that an additional 156,000 jobs had been lost in September. On 29 April 2008, nine US states were declared by Moody's to be in a recession. In November 2008, employers eliminated 533,000 jobs, the largest single month loss in 34 years.^[47] For 2008, an estimated 2.6 million U.S. jobs were eliminated.^[48]

The unemployment rate in the US grew to 8.5 percent in March 2009, and there were 5.1 million job losses until March 2009 since the recession began in December 2007.^[49] That was about five million more people unemployed compared to just a year prior,^[50] which was the largest annual jump in the number of unemployed persons since the 1940s.^[51]

Although the US Economy grew in the first quarter by 1%,^[52][53] by June 2008 some analysts stated that due to a protracted credit crisis and "rampant inflation in commodities such as oil, food and steel", the country was nonetheless in a recession.^[54] The third quarter of 2008 brought on a GDP retraction of 0.5%^[55] the biggest decline since 2001. The 6.4% decline in spending during Q3 on non-durable goods, like clothing and food, was the largest since 1950.^[56]

A 17 Nov 2008 report from the Federal Reserve Bank of Philadelphia based on the survey of 51 forecasters, suggested that the recession started in April 2008 and will last 14 months.^[57] They project real GDP declining at an annual rate of 2.9% in the fourth quarter and 1.1% in the first quarter of 2009. These forecasts represent significant downward revisions from the forecasts of three months ago.

A 1 December 2008, report from the National Bureau of Economic Research stated that the U.S. has been in a recession since December 2007 (when economic activity peaked), based on a number of measures including job losses, declines in personal income, and declines in real GDP.^[58] By July 2009 a growing number of economists believed that the recession may have ended.^[59][60] The National Bureau of Economic Research announced on 20 September 2010 that the 2008/2009 recession ended in June 2009, making it the longest recession since World War II.^[61]

Other countries[link]

This unreferenced section requires citations to ensure verifiability.

Many other countries, particularly in Europe, have undergone decreasing rates of GDP growth. Some countries have been able to avoid a recession but have still experienced slower economic activity, such as China. Australia was able to maintain positive growth throughout the late-2000s (decade) recession.

See also[link]

• Buffer Theory
• Economic depression
• Economic stagnation
• Stagflation

Specific:

• Great Depression – August 1929 to September 1939: the longest (and most severe) recession of the 20th century
• Financial crisis of 2007-2010- current recession
• List of recessions in the United States – a list of important recessions in the United States

References[link]

External links[link]

• Business Cycle Expansions and Contractions The National Bureau Of Economic Research
• Independent Analysis of Business Cycle Conditions – American Institute for Economic Research (AIER)

Young Jeezy
Young Jeezy in 2006
Background information
Birth name	Jay Wayne Jenkins
Also known as	Lil J
Born	(1977-10-12) October 12, 1977 (age 34) Columbia, South Carolina[1]
Origin	Atlanta, Georgia, United States
Genres	Hip hop
Occupations	Rapper, songwriter
Years active	2001–present
Labels	CTE World/Def Jam, Def Jam South
Associated acts	USDA, Akon
Website	http://youngjeezy.defjam.com

Jay Wayne Jenkins (born October 12, 1977),^[1] better known by his stage name Young Jeezy, is an American rapper. He is a member of the hip hop group United Streets Dopeboyz of America (USDA) and a former member of BMF (Black Mafia Family). He began his career in 2001 under an independent label and joined Boyz 'N Da Hood in 2005, the same year his solo major label debut Let's Get It: Thug Motivation 101 was released. Its single "Soul Survivor", which featured Akon, became a top-ten hit in the US.

The Inspiration followed in 2006, and The Recession followed in 2008; both albums yielded chart-topping singles. Jeezy has also appeared on numerous other rap and R&B singles such as "Say I" by Christina Milian, "I'm So Paid" by Akon, "Hard" by Rihanna, and "Love in This Club" by Usher, the latter being a number one single on the US Billboard Hot 100 in 2008.

Early life[link]

Jay Wayne Jenkins was born in Columbia, South Carolina^[1] and relocated to Atlanta, Georgia when he was a toddler.^[2][3] Because his parents were separated, custody of him transferred between family members frequently. In an interview with XXL magazine, he described his childhood as "empty". In 1994, he spent nine months in YCA (Youth Challenge Academy), a boot camp in Fort Stewart, Georgia, for narcotics possession.^[4]

Music career[link]

Independent debut[link]

Jeezy released his first independent album, Thuggin' Under the Influence (T.U.I.), in 2001 under the name Lil J.^[5] It featured artists such as Freddy J.,Kinky B, Fidank, and Lil Jon, who also produced some of the tracks. In 2003, Jeezy released (also independently) Come Shop wit Me, a two CD set featuring completely new tracks with some songs from T.U.I. Jeezy signed with Bad Boy Records in 2004 and joined the group Boyz n da Hood, whose self-titled album was released in June 2005 and peaked at #5 on the Billboard 200 albums charts.

[edit] Let's Get It: Thug Motivation 101 (2005)

In May 2004, Jazze Pha's manager Henry 'Noonie' Lee showed Young Jeezy's demo to his friend Shakir Stewart, Vice President Artist and Repertoire (VP A&R) at Def Jam.^[6] Stewart "fell in love with it [the demo] the first time [he] heard it" and took it to L.A. Reid.^[6] Reid recognised the talent and gave Stewart the green light to sign him.^[6] As the "hottest thing on the street" at the time, various labels - including Warner and Interscope – were after his signature. However, Jeezy decided he wanted to be in business with Stewart and Reid. As a result, signed with Def Jam Records.^[6]

Jeezy's major label debut, Let's Get It: Thug Motivation 101, was released on July 26, 2005. He debuted at #2, selling 172,000 copies in its first week.^[7] It spawned several hit singles such as "Soul Survivor" featuring Akon. It reached #4 on the Billboard Hot 100 and #1 on the Hot Rap Tracks charts. "And Then What" featuring Mannie Fresh, which reached #67 on the Hot 100 and #13 on the Hot Rap Tracks. "My Hood", #19 on the Rap chart. In an interview with HitQuarters, A&R Shakir Stewart said that Jeezy had recorded over 60 songs for the album.^[6]

Jeezy partially wrote and performed on Gucci Mane's song, "Icy". Supposedly, Jeezy was never paid properly for his services. Those in Gucci Mane's camp have suggested that gang members from the Mechanicsville area attacked Gucci Mane to defend Jeezy's honor.^[8] Jeezy put out a track called "Stay Strapped" dissing Gucci Mane to the beat of "T.I.'s" song "A.S.A.P." Jeezy responded to Gucci Mane's, while rapping "even his own momma know, Radric Davis a bitch". In a recent Cutmaster C mixtape, The Hood News Page 3: Jay-Z Boycotts Cristal, Gucci disses Jeezy along with Jay Z in his track, "745". Jeezy addresses Gucci back on the same mixtape. While on the track "Break It Down", featuring Cmillz. On "Streets On Lock", from The Inspiration, Jeezy addressed Gucci Mane again, saying "What type of real nigga name himself after a bag?/Nigga you's a hoe, a Louis Vuitton fag". Towards the end of 2009, DJ Drama brought Young Jeezy to the radio station and called Gucci Mane to settle the beef once and for all. The two stopped feuding but throughout early 2010, the crews of Jeezy & Gucci (CTE & Brick Squad) have been in and out altercations with each other despite the fact Jeezy & Gucci have nothing to do with that. In 2011, Jeezy plans to release a new single featuring DJ Spluge and the rest of the Gangster Brigade.

In interviews and on several records, Jeezy has affirmed his resistance to commercialism in his music.^[9] Maintaining his street credibility, according to Jeezy, is of the utmost concern to him as an artist.^[4] In 2005, Jeezy was featured in several popular hip hop songs including Gucci Mane's "Icy"^[10] and Boyz n da Hood's "Dem Boyz". Due to having a successful solo career, he left the group. From time to time he still keeps in contact with a few of the members, but in early 2010 Jeezy & Jody Breeze (who is still a member of Boyz N Da Hood) began to diss each other which started a new beef between the two.

[edit] The Inspiration, U.S.D.A. (2006–2007)

In 2006, he was featured in Christina Milian's single "Say I". Jeezy's second major label album was The Inspiration, released in 2006. The album's first single "I Luv It" peaked at #14 on the Billboard Hot 100. "Bury Me A G" and "Go Getta" featuring R. Kelly, and "Dreamin’" featuring Keyshia Cole followed.

He also portrayed himself in the hip-hop fighting themed game Def Jam: Icon. In 2007, Jeezy released Cold Summer, an album by rap group USDA which consists of Jeezy, Blood Raw, Slick Pulla, 2Eleven and Boo Rossini.^{[citation needed]}

Jeezy presented a week-long toy drive and charity event series with his CTE family with the first annual Toyz n da Hood toy drive. The series presented 1,000 toys for 1,000 kids at various locations in Macon and Atlanta, which began on December 17, 2007, with the CTE Christmas Kickoff from 10 pm to 5 am at Club Miami. The toy giveaway took place in the Unionville neighborhood of Macon and at the Old Fourth Ward Community in Atlanta.^[11]

[edit] The Recession (2008)

His third album, The Recession, was released in 2008. "Put On" featuring Kanye West was the lead single, which also led to a Grammy Nomination for Best Rap performance by a duo, but it came short. Put On was followed by "Vacation", "Crazy World", "My President" with Nas, and "Who Dat" to complete the Recession's singles. Jeezy appeared on the R&B singles "Love in This Club" by Usher and "I'm So Paid" by Akon (also with Lil Wayne). "Love in This Club" peaked at #1 on the Billboard Hot 100. Later, he performed on Ciara's single "Never Ever", from her album Fantasy Ride.^[12]

In the summer of 2008, Jeezy was at the center of a controversy over his choice for president. While he had previously endorsed Barack Obama, he spoke about meeting and supporting John McCain during an interview with Vibe magazine. The statement caused a stir, and Jeezy quickly clarified his choice, via a viral video. In the four-minute explanation, Jeezy made it clear, Obama was his main choice. "I represent the Democratic party. ... I've never been nor do I ever plan to be a John McCain supporter", the rapper said. "I support Barack Obama."^[13] Jeezy and Jay-Z performed in a concert to celebrate the inauguration of President Barack Obama on January 18, 2009.^[14] On The O'Reilly Factor, commentator Bill O'Reilly criticized their performance as a "rant that offended people",^[15] but Jeezy responded: "I got white friends. It's nothing like that. I'm a taxpayer, I got a right to voice my opinion at any point in time. I don't think he really understands my struggle."^[16]

[edit] Thug Motivation 103: Hustlerz Ambition (2011-present)

Jeezy is working on Thug Motivation 103, his latest LP, as of November 2009.^[17] In March 2010, it was reported that Young Jeezy dropped "Young" from his stage name.^[18] Later, Young Jeezy denied the name change and claimed it was just a rumor:^[19] however, on the cover for his single "Lose My Mind", his name is printed as "Jeezy". On May 17, 2011, Jeezy released the first single for Thug Motivation 103, "Ballin", which features Lil Wayne.

On March 4, 2010 Jeezy released the track "Illin", featuring the group Clipse; specifically Pusha T. On the track Pusha T raps, "No amount of record sales could derail this ...Stuffing dead prezzies in the wall like that Yale bitch..." The line was controversial and many felt the line was in bad taste and demeaned Yale student Annie Le, who was murdered in 2009, by making light of a crime that had grabbed a lot of media attention due to its extremely upsetting and tragic nature.^[20] On July 22, 2011, Young Jeezy released the second single off TM103, "Shake Life". On July 26, 2011, Young Jeezy announced a September 20, 2011 release date for TM103.^[21] However the album was pushed back yet again, this time to December 20, 2011.^[22] On September 29, 2011, Young Jeezy released the third single off TM103, named "F.A.M.E. (Fake Ass Mothafu*kas Envy)",^[23] featuring T.I. This is the first official song T.I. was featured on since his latest stint in prison.

Personal life[link]

He is a personal friend of fellow Atlanta rapper Yung Joc.^[24] After Hurricane Katrina, Jeezy opened his house to the victims in an effort to help them have a place to stay. In October 2005, the mother of his 9 year old son used this as the basis to petition for child support. Early in the year, she had claimed that she had little income, no assets and did not even have a house.^[25]

On March 11, 2005, Jeezy was arrested after an alleged shooting involving some of his friends in Miami Beach, Florida.^[26] He was charged with two counts of carrying a concealed firearm without a permit; however, prosecutors dropped his charges two months later over lack of evidence.^[27] In the early hours of September 29, 2007, Jeezy destroyed his Lamborghini when it was hit by a taxi crossing Peachtree Street, outside of Justin's, Sean Combs’s restaurant in Atlanta. The Atlanta Journal Constitution reported his claim that this gave him "a new appreciation for life".^[28] In Atlanta on June 18, 2008, police arrested him for DUI.^[29]

Discography[link]

Studio albums 2005: Let's Get It: Thug Motivation 101 2006: The Inspiration 2008: The Recession 2011: Thug Motivation 103: Hustlerz Ambition Filmography[link] 2009: Janky Promoters [30] Awards[link] BET Awards 2010, Viewer's Choice Award ("Hard") with Rihanna [Won] 2009, Best Male Hip-Hop Artist [Nominated] 2008, Best Collaboration ("I'm So Hood [Remix]") with DJ Khaled, Ludacris, Busta Rhymes, Big Boi, Lil Wayne, Fat Joe, Birdman, & Rick Ross [Nominated][31] BET Hip-Hop Awards 2008, Best Hip-Hop Video ("I'm So Hood [Remix]") with DJ Khaled, Ludacris, Busta Rhymes, Big Boi, Lil Wayne, Fat Joe, Birdman, & Rick Ross [Nominated][32] 2008, Best Hip-Hop Collabo ("I'm So Hood [Remix]") with DJ Khaled, Ludacris, Busta Rhymes, Big Boi, Lil Wayne, Fat Joe, Birdman, & Rick Ross [Won][33] 2008, People's Champ Award ("Put On") with Kanye West [Nominated][34] 2006, Hip-Hop CD of the Year ("Let's Get It: Thug Motivation 101") [Nominated][35] 2006, Hip-Hop MVP of the Year [Nominated][35] Grammy Awards 2009, Best Rap Performance By a Duo or Group ("Put On") with Kanye West [Nominated][36] 2010, Best Rap Performance By a Duo or Group ("Amazing") with Kanye West (Nominated) 2011, Best Rap Performance by a Duo or Group ("Lose My Mind") with Plies (Nominated) Ozone Awards[citation needed] 2008, Best Rap Artist [Nominated] 2008, Best Rap/R&B Collaboration ("Love in This Club") with Usher (Won) 2007, Best Rap Album The Inspiration (Won) 2007, Best Rap/R&B Collaboration ("Go Getta") with R. Kelly [Nominated] 2007, Best Video ("Grew Up a Screw Up") with Ludacris [Nominated] 2007, Best Group with Slick Pulla & Blood Raw as USDA [Nominated] References[link] ^ a b c Kellman, Andy (2008). "Young Jeezy: Biography". allmusic. http://www.allmusic.com/artist/p640485/biography. Retrieved 2009-01-16.  ^ Reid, Shaheem (June 1, 2005). "Young Jeezy". You Hear It First. MTV News. http://www.mtv.com/news/yhif/young_jeezy/. Retrieved April 1, 2010.  ^ Reid, Shaheem (August 1, 2005). "Young Jeezy: Putting His Mouth Where His Money Is". MTV News. http://www.mtv.com/bands/y/young_jeezy/young_jeezy_inw_050801/. Retrieved April 1, 2010.  ^ a b Thompson, Bonsu (October 2005). "I'm a King". XXL. http://www.xxlmag.com/magazine/2005/10/im-a-king/. Retrieved January 13, 2011.  ^ "Thuggin Under the Influence". Amazon.com. http://www.amazon.com/dp/B00005M96X/. Retrieved November 29, 2006.  ^ a b c d e "Interview With Shakir Stewart". HitQuarters. November 14, 2005. http://www.hitquarters.com/index.php3?page=intrview/opar/intrview_ShakirStewart.html. Retrieved Jun 22, 2010.  ^ Ethan Brown (May 4, 2006). "Black Mafia Family – Mo' Money, Mo' Problems". http://www.vibe.com/news/magazine_features/2006/05/bmf_mo_money_mo_problems/. Retrieved November 29, 2006.  ^ "Beef with Gucci Mane". http://atlanta.about.com/od/celebrityprofiles/p/guccimane.htm. Retrieved November 29, 2006.  ^ "My Hood lyrics". http://ezsonglyrics.com/lyrics/young-jeezy/my-hood.html. Retrieved November 29, 2006.  ^ "Popular single "Icy"". http://atlanta.about.com/od/celebrityprofiles/p/guccimane.htm. Retrieved November 29, 2006.  ^ "''HHWorlds.com'' – Young Jeezy Hosts 'Toyz n da Hood' (December 14, 2007)". Hhworlds.com. 2011-05-08. http://www.hhworlds.com/f11/12-14-07-young-jeezy-hosts-toyz-n-da-hood-10052.html. Retrieved 2011-08-05.  ^ Ciara's New Single Confirmed Rap-Up.com. Retrieved December 19, 2008. ^ Starbury, Allen (2008-07-02). "Young Jeezy Clarifies McCain Comments, Pledges Support For Obama". BallerStatus.com. http://www.ballerstatus.com/article/news/2008/07/5016/.  ^ St. Pierre, Jay (2009-02-19). "Get Sillay: Young Jeezy enforces country's racial segregation". The Daily Reveille. http://www.lsureveille.com/opinion/get_sillay_young_jeezy_enforces_country_s_racial_segregation-1.1485034.  ^ Reid, Shaheem (2009-01-22). "Young Jeezy Defends 'My President' Against Bill O'Reilly". MTV News. http://www.mtv.com/news/articles/1603361/20090122/jeezy_young.jhtml. Retrieved 2009-03-15.  ^ Reid, Shaheem (2009-02-13). "Kanye West Explains 'Jockin' Jay-Z' Sample, Drops Exclusive Freestyle, More In Mixtape Monday". Mixtape Monday (MTV News). http://www.mtv.com/news/articles/1605130/20090213/west_kanye.jhtml.  ^ Reid, Shaheem (2009-07-09). "Young Jeezy Is Working On Thug Motivation 103 'Right Now'". MTV News. http://www.mtv.com/news/articles/1615584/20090708/story.jhtml. Retrieved 2009-07-27.  ^ Young Jeezy Changes His Name. Island Def Jam. Retrieved March 19, 2010. ^ Jeezy denies name change says he still Young Jeezy | Young Jeezy. Rap Basement (2010-04-13). Retrieved on 2010-12-27. ^ Gendreau, Leanne. (2010-09-20) Rap Lyric Makes Light of Annie Le Murder. NBC New York. Retrieved on 2010-12-27. ^ "Young Jeezy Announces ‘TM103’ Release Date". Rap-Up.com. 2011-07-25. http://www.rap-up.com/2011/07/25/young-jeezy-announces-tm103-release-date/. Retrieved 2011-08-05.  ^ Iandoli, Kathy (2011-09-20). "Rap Release Dates: Young Jeezy, Mac Miller, Bow Wow, DJ Drama | Get The Latest Hip Hop News, Rap News & Hip Hop Album Sales". HipHop DX. http://www.hiphopdx.com/index/news/id.16909/title.rap-release-dates-young-jeezy-mac-miller-bow-wow-dj-drama. Retrieved 2011-10-31.  ^ "Young Jeezy – F.A.M.E. (Fake Ass Muthaf*ckas Envy) f. T.I". Fashionably-early.com. 2011-09-29. http://fashionably-early.com/2011/09/29/young-jeezy-%e2%80%93-f-a-m-e-fake-ass-muthafckas-envy-f-t-i/. Retrieved 2011-10-31.  ^ Krista Desens (July 11, 2006). "Yung Joc". http://netmusiccountdown.com/inc/news_article.php?id=10617. Retrieved November 29, 2006.  ^ "Jeezy helps hurricane victims". The San Francisco Chronicle. October 21, 2005. http://www.sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=7&entry_id=1409. Retrieved November 29, 2006.  ^ "Young Jeezy arrested after Florida shootout". Associated Press. March 16, 2006. http://today.msnbc.msn.com/id/11808183. Retrieved June 27, 2010.  ^ "Young Jeezy weapons charges dropped". Associated Press. May 19, 2006. http://today.msnbc.msn.com/id/12818427. Retrieved June 27, 2010.  ^ 40/40 Club Stabbing. SOHH. Retrieved October 10, 2007. ^ Harris, Chris (2008-06-18). "Young Jeezy Arrested In Atlanta". MTV News. http://www.mtv.com/news/articles/1589553/20080618/jeezy_young.jhtml. Retrieved 2009-02-03.  ^ Kuperstein, Slava (2008-07-10). "Jeezy Talks Movie With Ice Cube, Remix With Jay-Z". Hiphopdx.com. http://www.hiphopdx.com/index/news/id.7285/title.jeezy-talks-movie-with-ice-cube-remix-with-jay-z. Retrieved 2011-08-05.  ^ Best Collaboration. BET Awards 2008. ^ Best Hip-Hop Video. BET Hip Hop Awards 2008. ^ Best Hip Hop Collabo. BET Hip Hop Awards 2008. ^ Alltel People's Champ Award. BET Hip Hop Awards 2008. ^ a b Adaso, Henry. "2006 BET Hip-Hop Awards". About.com. http://rap.about.com/od/awards/a/BETHipHopAwards.htm. Retrieved 2009-04-10.  ^ "The 51st Annual Grammy Awards Winners List". NARAS. 2009. http://www.grammy.com/GRAMMY_Awards/51st_show/list.aspx#07. Retrieved 2009-04-10.  External links[link] Wikimedia Commons has media related to: Young Jeezy Official website Young Jeezy at the Internet Movie Database Young Jeezy Interview at prefixmag Young Jeezy Circulate Music Video Young Jeezy Talks About Nas v t e Young Jeezy Studio albums Let's Get It: Thug Motivation 101 The Inspiration The Recession Thug Motivation 103: Hustlerz Ambition Independent albums Thuggin' Under the Influence (T.U.I.) Come Shop wit Me Collaboration albums Boyz n da Hood Cold Summer Singles "And Then What" "Soul Survivor" "Go Crazy" "My Hood" "I Luv It" "Go Getta" "Dreamin'" "Put On" "Vacation" "Crazy World" "My President" "Who Dat" "Lose My Mind" "Ballin'" "F.A.M.E." "I Do" "Leave You Alone" Featured singles "Icy" "Get Throwed" "Say I" "Grew Up a Screw Up" "Diamonds" "5000 Ones" "100 Million" "Love in This Club" "Louie" "I'm So Paid" "Never Ever" "Amazing" "Better Believe It" "Fed Up" "Hard" "Put Your Hands Up" "(Ha Ha) Slow Down" Collaborative singles "Dem Boyz" "White Girl" Other songs "I'm Goin' In" "Be the One" Related articles Discography Boyz n da Hood United Streets Dopeboyz of America v t e Def Jam Recordings Founders Russell Simmons Rick Rubin Current artists 2 Chainz Ameriie Asher Roth Big Boi Big Sean Brutha Chrisette Michele DJ Clue? The-Dream Electrik Red Fabolous Fast Life Yungstaz Ghostface Killah Jadakiss Jennifer Lopez Jeremih Juelz Santana Kanye West Karina LL Cool J Ludacris Method Man Method Man & Redman Nas Patti LaBelle Pusha T Redman Rick Ross Rihanna Ron Isley Sheek Louch Shyne The Roots Triple C's U.S.D.A YG Young Jeezy Former artists 3rd Bass Ace Hood Alyson Williams Ashanti Beanie Sigel Beastie Boys B.G. Knocc Out Bobby V Boss Cam'ron Capone-N-Noreaga Case Chingy Cormega Cru Davy D Def Squad The Diplomats DJ Richie Rich DMX Domino Downtown Science The Dove Shack Dresta Dru Hill EPMD Fam-Lay Flatlinerz Foxy Brown Funkmaster Flex Flesh-n-Bone I-20 Ja Rule Jay-Z Jayo Felony Joe Budden  · Jonell Keith Murray Kelly Price Lady Gaga Lady Luck Lil Ru Lil Scrappy Lloyd LovHer Megan Rochell MoKenStef Montell Jordan Musiq Soulchild Ne-Yo Nikki D N.O.R.E. Nice & Smooth Nicole Wray N-Dubz Onyx Oran "Juice" Jones Peedi Peedi Pete Nice Playa Rell Rev Run Richie Rich Rocko Scarface Selan Lerner Shareefa Shawnna Sisqó Slayer Slick Rick South Central Cartel Terminator X Terri Walker Unladylike Warren G WC Y?N-Vee v t e Def Jam South Founders Russell Simmons Current artists Mannie Fresh Ludacris Rick Ross DJ Khaled The-Dream Troy Gentile Yung Berg Ace Hood Young Jeezy USDA Slick Pulla Triple C's Big Sean Willy Northpole Brutha TK N CASH Unladylike Lil Fate Fast Life Yungstaz Former artists Bobby V Scarface Jarvis Lazy Eye LeLe Serius Jones Shawnna Blood Raw Shareefa Steph Jones Lil Scrappy I-20 Lil Ru Related articles and record labels Def Jam Recordings We the Best Music Group Disturbing tha Peace Slip-N-Slide Records Persondata Name Young Jeezy Alternative names Short description American rapper Date of birth September 28, 1977 Place of birth Columbia, South Carolina Date of death Place of death

Peter Schiff

Austrian School
Born	(1963-03-23) March 23, 1963 (age 49)
Nationality	United States
Field	Financial Economics
Alma mater	U.C. Berkeley (B.B.A.), 1987[1]
Opposed	John Maynard Keynes,[2] Alan Greenspan,[3][4][5] Ben Bernanke,[6][7][8] Paul Krugman,[9] Christopher Dodd,[10] Barack Obama,[11]
Influences	Irwin Schiff, Ludwig von Mises, F.A. Hayek, Murray Rothbard

Peter David Schiff (pronounced /ˈʃɪf/; born March 23, 1963) is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist^[1] of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut^[12] and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.^[13]

Schiff frequently appears as a guest on financial television and is often quoted in major financial publications. He is host of The Peter Schiff Show, a radio show broadcast on terrestrial and internet radio. He is a frequent guest on internet radio^[14][15][16] as well as the host of the former podcast Wall Street Unspun.^[14][17] In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.^[18]

Schiff is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets as well as foreign stocks and currencies.

Early life and education[link]

Peter Schiff was born and raised in New Haven, Connecticut. His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion.^[19] Peter Schiff attended Beverly Hills High School in California,^[20] and graduated from the University of California, Berkeley in 1987 with a Bachelor's degree in finance and accounting.^[1]

Financial career[link]

Schiff began his career as a financial consultant at a Shearson Lehman Brothers brokerage.^[1] In 1996 Schiff and a partner acquired a small brokerage firm that had been founded in 1980, reincorporated it in California and renamed it Euro Pacific Capital.^[21][22] The company today has more than 15,000 clients^{[citation needed]} and six offices nationwide, with its headquarters in Westport, Connecticut.^[12][21][23]