Economic Impact Of The Great Recession - 851 Words

This paper will be defining the 2008 great recession and the economic impact which the United States wasn’t aware of. The great recession affected various businesses and others forced to increase prices or close doors immediately. Fiscal and monetary policies will also be discussed briefly in detail knowing the differences and determining the best course of action. Lastly will be implementing possible solutions to fix the economic problem and prevent any future recessions that could pose a devastating impact to economy. 2008 Great Recession Involvement The Great Recession was best known during the late President Bush into Obama era. Great Recession defined as; the economic slump began when the U.S. housing market went from boom to bust and large amounts of mortgage-backed securities and derivatives lost significant value (Investopedia.com). As the housing market was crashing, houses and business buildings have become vacant which the per capita rate for many cities dropped. The issue forced gas prices and goods to increase to make up for the loss per capita rate percentage. The economy doesn’t see the big picture when prices rise and interest decreases, hurting, value and profits within businesses throughout country continue bringing down markets. Take Johnstown Pennsylvania for example; the city was known for the leading steel manufacturing companies. With the market declining with facts from 2000-2010 census data, Johnstown Pennsylvania has lost over 5 % ofShow MoreRelatedThe contemporary G reat Recession and the global financial crisis1032 Words   |  5 Pagescommonly believed to have led to the Great recession and to the present global financial crisis, these issues have been subject to much research. In fact, no one can claim that the Great Recession and the global financial crisis have been under-researched. In fact, the new world recession has been analysed from different angles and perspectives. 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The great depression lasted from 1929-1933 and was a deep prolonged downturn in the business cycle before a recovery/expansion of the business cycle occurred and GDP and employment started to rise (Krugman Wells. 2012). The next recession lasted fromRe ad MoreThe Cause And Effect Of Leaded Gasoline1544 Words   |  7 Pages Near the end of 1857, President James Buchanan was faced with increasing economic turmoil due to the Panic of 1857. According to â€Å"Panic of 1857† on The failure of several important businesses and the fall in grain prices led to an economic downturn that affected the entire United States, which Buchanan chose to ignore. This financial slump ended several years later, but the consequences exacerbated other issues in the U.S., especially the tensions between the North and the South. In 1965, Clair