Here's What Caused the Great Recession | History

Discover the confluence of events that prompted the Great Recession in America and its main culprit: the subprime mortgage housing crisis. Learn how the Great Recession affected the economy and how it differed from the Great Depression of the 1930s. #HistoryChannel
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[chieftokealot]

It’s crazy how I grew up during this time and didn’t even know this happened until now

[kortyEdna]

I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300, 000, yielding almost no gains for quite some time.

[KXRTT---]

I was playing call of duty the whole time. Didn't even know there was a recession going on lol

[asiandude]

If you don’t learn your history,
Your bound to repeat it.

But instead of the stock market, it’s the home market.

[lonewolfnh]

I graduated high school in 2008. No money and no family support. Life was rough. I'm trying to get my life together so the next recession won't touch me.

[rickiex]

Used to work for mortgage company, and this is accurate. You should also mention, bankers were INTENTIONALLY giving out subprime loans so they can maximize their profits. That's why I can't work in sales industry anymore.

[kennooo]

The bank employee who loaned 100k to a broke guy: *Oopsie*

[supermetallicman]

I remember I was a kid in elementary school hearing about this, crazy how a lot of people just lost their homes like that.

[CamillaPsh]

While my portfolio consists of reputable companies, it has experienced a lack of growth this year. Given the current inflation and depreciation of the dollar, I recently withdrew my funds from the bank. I allocated some of these funds into investments in gold and silver. Currently, I have around $560, 000 sitting idle in my reserves that I am seeking to increase. I would greatly appreciate any suggestions on how to enhance the growth of my portfolio.

[davisdenver]

I grew up during this and never knew it was happening. I still went to school, none of the staff had been laid off, and the bus drivers were still making their routes. And my parents were still working because their jobs were essential. Never knew about this until I was an adult.

[tea]

Me during the Great Recession: why can’t they just print out more money?

[Stopreadingmyusername]

All I remember from this at age 6-7 was that we were going to lose our home...which thankfully we didn't at that time and lasted 10 more years!

[aileenvargas]

This is what caused my family to move to another state

[BlueCollar]

I remember the recession vividly. I live in the Detroit area and watched on tv as they kept laying off thousands of auto workers. The whole area suffered. I didn’t have a job for over two years. The news paper back in 2009 published a listing of foreclosures in the area and it was two inches thick.

[psouvik]

who is here after the coronavirus pandemic?

[notaknight]

Parents divorced during this time. Never knew why until i learned of the recession

[shaikhalifa]

very informative - im doing my presentation based on your preview... thanks !

[taylorrromero]

Thank you for the explanation, I needed it for my economics class.

[JCPatrick]

My bf at the time had a really great job but got laid off bc of what happened to the economy. It was such an awful and stressful time for both of us. I was still in undergrad school and he had just gotten his MBA and had so many hopes and dreams. He played for Chicago slaughter & was in the army too. He had so much great stuff going on for him.
But after he got laid off, he tried really hard to stay afloat but we eventually had to move out of Chicago. He started drinking & got into a lot of trouble. It really ruined his life. I’m so sad about this but I think he’s finally just healing from everything bad that’s happened since then. He’s very strong willed and overly arrogant. That attitude was good and bad but I won’t go into it now.
I haven’t talked to him at all since we broke up a long time ago but I hope he’s happy and living a good life now.

[hulksmash]

Thanks bro! true G! helped me understand how to do my homework. U r actually pretty good at explaining. Thanks