The Great Recession (1 dic 2007 anni – 1 giug 2009 anni)

Descrizione:

Duration: Eighteen months
GDP decline: 4.3%
Peak unemployment rate: 9.5%

Reasons and causes: The nationwide downturn in U.S. housing prices triggered a global financial crisis, a bear market in stocks that had the S&P 500 down 57% at the lows, and the worst economic downturn since the recession of 1937-38.41 Global investment flows into the U.S. had kept market rates low, likely encouraging unscrupulous mortgage underwriting and mortgage-backed securities marketing practices.42 Oil prices spiked to record highs by mid-2008 and then crashed, depressing the U.S. oil industry.

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