What went wrong with the U.S. economy in 2008?
The history of the economic facts of several economies has been outstanding and hilarious at the same time. The economy of the United States of America did too played the major crux in its history and brought about several thrills to its economy and even to the world economy. The economic slowdowns, depressions, recessions, and many more such happenings banged the economy completely and are formulated as after-effects in the current scenario.
The year 2008 marked the beginning of an immense disruption in the United States of America when a cruel component financial crisis hit the economy hard with improper analysis of the American government.
The U.S. Economy witnessed the era of financial crisis during 2008 and continued till 2-3 years when it completely came out from the struggles they had. The several features include:-
- Deregulation in the financial industry affected the economy harshly.
- Lack of investor confidence did brought the economy at a stage without funds.
- Lack of proper government controls.
- Decline in the credit availability from the banks and the financial institutions.
- Recessionary period
- Increase in the stock and commodity prices in the economy.
- Availability of highly risky loans only.
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