What is recession and what is its causes?
A recession is a decline of economic activity, more specifically, a decline in gross domestic product (GDP) for two or more consecutive quarters. Factors that cause a recession include high interest rates, reduced consumer confidence, and reduced real wages. How do you prepare for a recession?
What was it like to live through the Great Recession?
“It was a very traumatic event. Vast numbers of lives were changed forever undoubtedly when you look at the economy as a whole,” says Wharton management professor Matthew Bidwell. The Great Recession accelerated a number of trends and arrested the development of others.
What have we learned from the Great Recession?
What have we learned? 1. Just because you can qualify to borrow money doesn't mean you should. The Great Recession was triggered by the... 2. A house is primarily a place to live. If you saw yours as an ATM during the housing boom, you certainly weren't alone. 3. Stock prices can keep falling a very ...
Did We fully recover from the Great Recession?
A decade later, the American economy has recovered in many ways. Employers have been steadily adding jobs since early 2010, the stock market is booming and home prices have reached new all-time highs. But in other ways, Americans still carry the scars of the recession, some of which will never heal.
Precautionary Savings in the Great Recession - Ashoka Mody