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Sal Muto
Created on February 26, 2024
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450k
1.04 M
Bankruptcies
3.63%
$3.43
Government Spending (trillions)
25
Bank Failures
Mortgage Failure Rate
$2.06
9.2%
The Great Recession began in December of 2007 and lasted until June 2009
The Great Recession
Sal Muto
3.1
Million houses forclosed on during the Great Recession
Banks began to forclose on houses that were not being paid for.
10%
The peak unemployment rate during the Great Recession
The Recession saw unemployment rise dramatically.
6%
Percentage decrease in GDP over the year 2008
Gross Domestic Product and the number of jobs also decreased very quickly.
Changes during the Great Recession
Poverty Rate
During the Great Recession, poverty grew to
15.1%
Democrat
All Voters
Republican
The Great Recession
18%
Decrease in the Dow Jones during 2008
57%
Decrease in the S&P500(from its peak)
Many argue the main cause of the crash was the subprime mortgage crisis in the housing market.
"Too Much" Government Regulation
Home Prices
Decreased 30% during the recession
30%
President Barack Obama
Won a crucial election in 2008, an election where voters were looking for their next leader in hopes that he would lead the US out of economic hardship
8. Brooks, Clem, and Jeff Manza. “A Broken Public? Americans’ Responses to the Great Recession.” Shibboleth Authentication Request, 1 Oct. 2013, web-p-ebscohost-com.unh.idm.oclc.org/ehost/pdfviewer/pdfviewer?vid=15&sid=b797b7c8-aefc-4799-a2d6-fa2b8d6bf971%40redis.
7. McKay, Adam, director. The Big Short. Regency Enterprises Plan B Entertainment
6. Nakajima, Makoto. “The Diverse Impact of the Great Recession.” Shibboleth Authentication Request, 1 June 2013, web-p-ebscohost-com.unh.idm.oclc.org/ehost/pdfviewer/pdfviewer?vid=8&sid=b797b7c8-aefc-4799-a2d6-fa2b8d6bf971%40redis.
5. Bartels, Larry M. “Political Effects of the Great Recession.” Shibboleth Authentication Request, Nov. 2013, www-jstor-org.unh.idm.oclc.org/stable/24541676?searchText=%28Great%2BRecession%29&searchUri=%2Faction%2FdoAdvancedSearch%3Fq0%3DGreat%2BRecession%26f0%3Dall%26c1%3DAND%26f1%3Dall%26acc%3Don&ab_segments=0%2Fbasic_search_gsv2%2Fcontrol&refreqid=fastly-default%3A145c5f6dfafafd17e2f7213d510d7b65&seq=2.
4. Danzinger, Sheldon. “Evaluating the Effects of the Great Recession.” Shibboleth Authentication Request, Nov. 2013, www-jstor-org.unh.idm.oclc.org/stable/24541674?searchText=%28Great%2BRecession%29&searchUri=%2Faction%2FdoAdvancedSearch%3Fq0%3DGreat%2BRecession%26f0%3Dall%26c1%3DAND%26f1%3Dall%26acc%3Don&ab_segments=0%2Fbasic_search_gsv2%2Fcontrol&refreqid=fastly-default%3A145c5f6dfafafd17e2f7213d510d7b65&seq=2.
3. Citation: Muto, Sal, and Sal Muto Sr. “2008 Economic Recession Interview.” 13 Feb. 2024
2. “The Impact of the Great Recession on Economic Wellbeing How Different Are OECD Nations and Why? .” Edited by Cary L Cooper, Search.Credoreference.Com, Wiley, 2014, search.credoreference.com/articles/Qm9va0FydGljbGU6NDI5MDgyNQ==?q=Great+Recession.
1. “Great Recession of 2008 and After .” Edited by Paul S Boyer, Search.Credoreference.Com, Oxford University Press, Inc., 2013, search.credoreference.com/articles/Qm9va0FydGljbGU6NDgwMTA5MA==?q=Great+Recession.