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The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression.
The financial crisis of 2007–08 was a severe contraction of liquidity in global financial markets that originated in the United States as a result of the collapse of the U.S. housing market. It precipitated the Great Recession (2007–09), the worst economic downturn in the United States since the Great Depression.
What Was the 2008 Great Recession? The Great Recession was the sharp decline in economic activity that started in 2007 and lasted several years, spilling into global economies. It is...
The warning signs of an epic financial crisis were blinking steadily through 2008—for those who were paying close attention. One clue?
The 2008 financial crisis was an epic financial and economic collapse that cost many ordinary people their jobs, their life savings, their homes, or all three.
The decline in overall economic activity was modest at first, but it steepened sharply in the fall of 2008 as stresses in financial markets reached their climax. From peak to trough, US gross domestic product fell by 4.3 percent, making this the deepest recession since World War II.
Here are some of the most important milestones in a Great Recession timeline of the financial crisis—also known as the 2008 recession—which lasted in the United States from mid-2007 to June...
Great Recession, economic recession that was precipitated in the United States by the financial crisis of 2007–08 and quickly spread to other countries. Beginning in late 2007 and lasting until mid-2009, it was the longest and deepest economic downturn in many countries, including the United States, since the Great Depression (1929– c. 1939).
The G-20 countries met in a summit held on November 2008 in Washington to address the economic crisis. Apart from proposals on international financial regulation, they pledged to take measures to support their economy and to coordinate them, and refused any resort to protectionism.
Ten years ago this week, the collapse of Lehman Brothers became the signal event of the 2008 financial crisis. Its effects and the recession that followed, on income, wealth, disparity and...