What Was The Cause Of 2008 Global Recession?

[Good-Person]

The year 2008 was one of the most memorable years in the human history. This is also because of the fact that many people witnessed much financial crisis around the globe. In the year 2008, global market crashed. People still remember it till this day. However, what was the main reason behind the crash?

 

[Jonaville]

The year 2008 was one of the most memorable years in the human history. This is also because of the fact that many people witnessed much financial crisis around the globe. In the year 2008, global market crashed. People still remember it till this day. However, what was the main reason behind the crash?

I was thinking that the recession that happened during the pandemic was even more than the one which happened in 2008. I will check the net to know what caused it.

 

[Joy123]

The 2008 financial crisis was caused by a confluence of issues within the financial industry and the broader economic. The financial crisis was primarily caused by deregulation in the financial industry.

 

[Ernestnari]

The great recession of 2008 was primarily triggered by the failure of the American Mortgage system. A decline in the housing industry led to so many bad debts to the financial institutions and this had a ripple effect since most financial institutions globally are inter connected. That led to the collapse of the world economic system.

 

[Nomad]

I was too young to understand economy back then, However, based on my reading and study, I believe the 2008 Glogal Recession was caused by housing market crash in the United States. They say the current recession is more severe than the one in 2008.

 

[Heatman]

This is just about the summary as it all began with cheap credit and lax lending standards that fueled a housing bubble. When the investment went south, banks were left holding trillions of dollars of worthless investments in mortgages. A lot of people lost their jobs, their savings, and their homes as a result of the great recession.