The Great Recession of 2008
Abstract
A recession is full-proof sign of declined activity within the economic environment. Many economists generally define the attributes of a recession are two consecutive quarters with declining GDP. Many factors contribute to an economy's fall into a recession, but the major cause argued is inflation. As individuals or even businesses try to cut costs and spending this causes GDP to decline, unemployment rate can rise due to less spending which can be one of the combined factors when an economy falls into a recession. Inflation is the general rise in prices of goods and services over a period of time. Inflation can happen for reasons such as higher energy and production costs and that includes governmental debt.
Great Recession of 2008
Introduction
The U.S. 2008 recession was felt in nearly every country’s economy worldwide. As inflation increased and various other factors began to fail the United States economic system a global recession began to take place. The U.S. began to face hardships such as high unemployment, bank failure, rising energy costs, housing and auto bubbles that ruptured into a global crisis. Although, much of the media focus was initially known as the so-called, “super power” U.S., now as more attention is being shifted to Japan the world’s number two economy and other nations financial markets. The global downturn had the potential to affect exports which the Sweden market experienced because of their high percentage of contributed over half to their GDP. However, during the next few pages we will elaborate further on the how the U.S. 2008 recession is dissimilar and parallel with that of Japan and Sweden’s. Also, listed will be those economic actions implemented that were effective or unsuccessful in fighting the recession.
Similarities of U.S. Recession and Other Nations
Japan and Sweden both had similar attributes and causes of the economic global downturn with those of the United States. • Japan is the
A recession is full-proof sign of declined activity within the economic environment. Many economists generally define the attributes of a recession are two consecutive quarters with declining GDP. Many factors contribute to an economy's fall into a recession, but the major cause argued is inflation. As individuals or even businesses try to cut costs and spending this causes GDP to decline, unemployment rate can rise due to less spending which can be one of the combined factors when an economy falls into a recession. Inflation is the general rise in prices of goods and services over a period of time. Inflation can happen for reasons such as higher energy and production costs and that includes governmental debt.
Great Recession of 2008
Introduction
The U.S. 2008 recession was felt in nearly every country’s economy worldwide. As inflation increased and various other factors began to fail the United States economic system a global recession began to take place. The U.S. began to face hardships such as high unemployment, bank failure, rising energy costs, housing and auto bubbles that ruptured into a global crisis. Although, much of the media focus was initially known as the so-called, “super power” U.S., now as more attention is being shifted to Japan the world’s number two economy and other nations financial markets. The global downturn had the potential to affect exports which the Sweden market experienced because of their high percentage of contributed over half to their GDP. However, during the next few pages we will elaborate further on the how the U.S. 2008 recession is dissimilar and parallel with that of Japan and Sweden’s. Also, listed will be those economic actions implemented that were effective or unsuccessful in fighting the recession.
Similarities of U.S. Recession and Other Nations
Japan and Sweden both had similar attributes and causes of the economic global downturn with those of the United States. • Japan is the