The Economic Crash Of 2008 - 1894 Words

The economic crash of 2008 was a difficult time for all of the people around us. This situation has impacted our country and what is around even to this day. It was a tough time for a lot of families and big businesses. This stock market crash was one of the worst the United States had ever had. Even to this day we are still trying to repair it what went down. Like the employment of jobs, the cost of our products, and homes that were taken away from families. The economic crash came from nowhere and it was a shock fro mainly families, especially the middle and low income families. This took many homes away from them and the job eventually leaving them with nothing. This had also hurt many foreign countries on their way, did trade and their investments. Many housing companies going down with this and also the way banks were running. Why and how did this all happen? This is one of the biggest economic crash in the United States that is still in the process of being repaired. All of thi s began with The National Bureau of Economic Research they began to notice the fall of many businesses in December 2007. The way they were able to notice the fall these businesses were by their gross domestic product ( GDP ). The first big problem with this was the recession of the housing-market. Not only that, but the employment rate had dropped dramatically when at that time it had just started to come back up. This really also discouraged a lot of people to go out and findShow MoreRelatedThe Economic Crash Of The United States And Iceland1555 Words   |  7 PagesThe Economic Crash of 2008 in the United States was caused by subprime mortgages, and the housing market crash, and could’ve been prevented or minimalized by many people within the economy taking precautionary actions. The Economic crash of 2008 had effects on nations around the globe. One of the nations that experienced the most difficulties was Iceland. 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