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The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map).
Several major U.S. economic variables had recovered from the 2007-2009 Subprime mortgage crisis and Great Recession by the 2013-2014 time period. The recession officially ended in the second quarter of 2009, [3] but the nation's economy continued to be described as in an "economic malaise" during the second quarter of 2011. [80]
In December 2007, the U.S. unemployment rate was 4.9%. [19] By October 2009, the unemployment rate had risen to 10.1%. [20] A broader measure of unemployment (taking into account marginally attached workers, those employed part-time for economic reasons, and some (but not all) discouraged workers) was 16.3%. [21]
The country had a positive growth of 1.5% in 2008 compared to a 3.3% in 2007, by 2009 the economy had shrunk by 6.5%, a percentage bigger than that of the 1994-1995 crisis [18] and the largest in almost eight decades and registering an inflation of 3.57% [19]
10. Finally, he jumpstarted the economy during the worst recession since the Great Depression. In the wake of the global recession, Obama signed the Recovery Act, which cut taxes and saved ...
Every year at this time, economists and financial analysts are jockeying for position on television news shows and in magazine articles. They each have the latest and greatest prediction about ...
During the bear market a heavy debate ensued as to whose fault the falling market was. The political parties were heavily divided during this period. [11] For the most part there were three camps: ones that simply blamed the economy, others that wanted to pin the passing Bush Administration and others that wanted to push the blame on the newly arriving Obama Administration.