But falling demand, including reduced demand for oil, has cut trade around the world.

VOA: special.2009.01.16

If firms cannot cut wages, then as falling prices squeeze profits, they will cut jobs.

ECONOMIST: The deadly cocktail of high borrowing and falling prices

If that happens, selling will beget more selling, and falling stock prices will cut investment, consumer spending (via the wealth effect), and tax receipts.

FORBES: Sailing into a Storm

The quality of service, traditionally the pride of department stores, is falling as they scramble to cut costs by reducing staff.

ECONOMIST: TV shopping in Japan