Question

i need a essay about 2008-2009 economics in USA .. 3 pages thanks

Answer 1

In 2008 the world economy confronted its most hazardous Crisis since the Great Depression of the 1930s. The infection, which started in 2007 when out of this world home costs in the United States at last turned conclusively descending, spread rapidly, first to the whole U.S. budgetary segment and afterward to money related markets abroad. The setbacks in the United States incorporated a) the whole venture saving money industry, b) the greatest insurance agency, c) the two undertakings contracted by the administration to encourage contract loaning, d) the biggest home loan moneylender, e) the biggest funds and advance, and f) two of the biggest business banks. The savagery was not constrained to the money related area, in any case, as organizations that regularly depend using a loan endured intensely. The American vehicle industry, which argued for a government bailout, ended up at the edge of a chasm. Still more inauspiciously, banks, believing nobody to pay them back, basically quit making the advances that most organizations need to control their money streams and without which they can't work together. Offer costs dove all through the world—the Dow Jones Industrial Average in the U.S. lost 33.8% of its incentive in 2008—and before the year's over, a profound subsidence had wrapped the majority of the globe.

A standout amongst the most broadly perceived markers of a retreat is higher joblessness rates. In December 2007, the national joblessness rate was 5.0 percent, and it had been at or beneath that rate for the past 30 months. Toward the finish of the retreat, in June 2009, it was 9.5 percent.

The economy created $14.4 trillion in merchandise and enterprises, as estimated by genuine total national output. That was 2.5 percent lower than the earlier year.In 2009, the GDP development rate was - 2.5 percent. As such, the economy contracted 2.5 percent.