2000 Recession

A recession occurs when a country’s real GDP begins to shrink. Even a milder economic slowdown in which GDP continues to grow, but very slowly can create unemployment and dislocation. GDP and employment are positively correlated. As GDP rises

Today the United States Americans more than ever; there is a constant fear of an awaiting recession due to the economy. The recession in the later 2000’s has been known as the greatest economic decline since the Great Depression. The United States of America, the banks and businesses are not able to succeed and are failing due to the market. Many people across America cannot afford their homes or bills due to the unemployment rate that seems to keep increasing. Many people blame this on the higher oil or gas prices, and the wars that the United States acts on. The recession has overall declined our economic activity in business profits, employment, and investment. This is all due to our falling market, and the rise of prices that so many Americans cannot afford.

A recession is characterised by a period of at least two consecutive quarters of negative growth. During a recession, demand and supply of goods and services in the economy contracts. The UK economy contracted by 1.5% in the last quarter of 2008 and the Gross Domestic Product experienced its biggest fall since the second quarter of 1980 (Kowelle 2009). This is the first time since the inception of the NMW that employment has fallen. Unemployment is rapidly on the increase.

The recession was caused by the “dot-com” collapse which resulted in the bankruptcy of several large companies. The unemployment rate in October 2000 was 3.9% and that rate rose to 4.9% by August 2001 (Gail Makinen). Also, industrial production fell 3.5% from December 2000 to August 2001 (Gail Makinen). The economy actually improved in the second quarter by 2.7% (Kimberly Amadeo). Then, the economy fell again due to the attacks. 9/11 made the economy contract 1.1% in the third quarter of 2001 (Kimberly Amadeo). Unemployment continued to rise to 5.9% in mid-2002 and topped off at 6% in June 2003 (Kimberly Amadeo). The attacks of 9/11 extended the recession of 2001, as it lasted to

According to the financial definition, a recession is a significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income, and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's GDP. (Dictionary.com) A less official and more realistic definition of an economic recession is the social perception of the state of the economy at a given time. The collective beliefs of the public, mainly businesses and consumers, drive the social perception of whether things are seen as positive or negative. Unfortunately

The United States had overcome two major economic crisis. The biggest crisis was the great depression, a ten year span from 1929 - 1939. The great recession is a more recent crisis, which affected many families from 2007 - 2009. There are many differences as well as similarities which makes it a good topic to compare the two.

In this paper, I will explain the roles and importance of the Business cycle Dating committee of the National Bureau of Economic Research. I will also explain how the NBER defines and dates recessions. Finally I will explain the important aspects and effects of the last recession.

Everybody in the United Stated was affected by the recession that began in December of 2007 and spanned all the way to June 2009. Even though the recession is over, many people are still being affected by it and have still not been able to recover from the great recession. “The recent recession features the largest decline in output, consumption, and investment, and the largest increase in unemployment, of any post-war recession”. Many people lost their jobs due to the recession and some of them are still having a hard time finding jobs and getting back on their feet. Businesses

Although, Japan and Sweden had few similarities with those of the United States during the Great Recession, there were dissimilarities that displayed the U.S. failure to achieve full employment GDP and other factors. •

Recession is a term that looms over any society at some point or another but what does recession mean for the economy, in short it is an economic decline. This essay will examine the meaning of recession and will discuss the fiscal and monetary policies that are used to pull economies out of recessions. The great Recession of 2008 will shed light on how these policies were successful at restoring economic growth and reducing unemployment.

The 2000’s are the worst yet good of times for several reasons. For instance, natural disasters have ruined several lives of others. In fact, they took away and everything one had whether it be their homes, loved ones, and stable conditions due to trauma. In 2004 alone, about 200,000 people were killed in a tsunami due to an earthquake that occurred in Sumatra which ended up sending huge waves to the Indian Ocean. Furthermore, Hurricane Katrina a devastating storm in 2005, destroyed many parts of New Orleans and Coasts of the Gulf with its floods and winds. Another is the Nepal earthquake, which occurred in this year during the month of April. In this earthquake, several of thousands of people were left homeless and and experienced aftershocks

The great recession of 2008 affected everyone around the world. The great Recession is considered the second worst economic crisis in American history, behind the Great Depression.

On the 26th of November 2001, the National Bureau of Economic Research, declared that after ten years of economic expansion, the United States was in a recession as of March 2001 (Coplan 9). During the last quarter of 2001, the United States experienced a terrible tragedy; the 9/11 terrorist attack. However, economists believe that even if the terrorist attack had not taken place, the recession would have still been present, but it did in fact delay recovery. The recession of 2001 was by far different than all the other recessions. It was in fact, better than other recessions because the 2001 only lasted a quarter. Real GDP barley changed and the unemployment rates slightly rose (Nordhaus 2). It was found that banks have improved their performance during the recession, they were prepared for the worst this time around. During the 1990s, risk management became an important factor for banking discipline. Using risk managements, it gives the economy a potential to increase the stability. Thereby, banks benefited from an environment that rapidly declined short term interest rates, which enabled them to borrow at a lower cost (Schuermann 2). These risk managements played an important factor during the recession while impacting the United States economy in a positive manner.

The economic recession of 2009 pushed some financial institutions to bankruptcy. The banking industry was also a victim of this economic hardship. Some solid institutions like Bank of America, Trust Bank, and Wells Fargo take over other banks for different reasons: market power, diversification, cost savings, and external growth. These banks acquire all the assets and the liabilities of another bank. These banks obtained the property rights and new market power. This research paper is to look at the economic advantages of the merger and to make some predictions.

The most recent recession was the great recession. The Great Recession was a period of general economic decline observed in world markets during the late 2000s. It slowly spread throughout the whole world. It was cause by International trade imbalances and tax lending standards contributing to high levels of developed country household debt and real-estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non-depository financial institutions. Once the recession began, various responses were attempted with different degrees of success. These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent