Are we in recession
Are We in Recession
Are we in recession? That may be a stupid question to ask now but yes we have been for more than 2 consecutive quarters.
What makes this recession difference from the one we experienced in 2000 is the fact that there were a lot of factors which were never there before. Eight years ago, this was attributed to the collapse of the dot-com bubble, the September 11 attacks and the accounting scandal.
This time around, we can blame it on high oil prices, global inflation, a credit crisis which lead to the bankruptcy of some of the most established banks, increased unemployment, and the housing crisis.
So what do you we see? There are a lot of employees who are jobless, people are forced to sell or foreclose their homes, credit markets are frozen making it impossible for businesses and consumers to get a loan and government intervention is needed to try and prevent things from getting worse.
Just this month, the president together with the help of congress and the senate signed into l
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