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First of all, let me confess that I am no economist, however I do have half a brain and it only takes half a brain to see the obvious as to what caused the recession (someone please tell me why the "experts" don't see it).
Developed countries sent all their manufacturing over to China and with it all their jobs because China is a great source of cheap slave labour.
Because of low interest rates (cheap credit provided back to us by the Chinese) we all went out and splurged (even if we couldn't afford it). While we were spending, unemployment was growing (no jobs left) and then one day the straw that broke the camel's back (sub-prime thingy) went "SNAP". It just so happened that the house of financial cards began to fall leaving a lot of crooks with their pants down and their volatile companies in tatters.
The scary part about all this is that this is not really a "RECESSION", in that it is not part of some cyclical process which will inevitably come to pass. This is for KEEPS!!! Why? Because, you think about...what will it take put everything back the way it was? China gives us all our jobs back? Unlikely!
Maybe we'll have a war or an epidemic (less people, more resources to share around). Maybe the big boys who really run the show will make up new figures (print more money) and just keep a lid on it for the next 25 years, in which China will raise it's living standards and wages and we can finally compete with them again.
I'd really love for someone to prove me wrong, because this isn't a very nice scenario, but like I said...it only takes half a brain to see the obvious.
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How much it will cost to relieve us from the recession?
It will cost about 850,000,000,000 dollars to relieve us fro the recession
What caused the recession in the US in 2001 to be mild?
The suspect lending practices was one of the causes of the recession in the US in 2001.
Which countries are least affected by the recession?
Countries such as Turkey, India, China, Qatar, Canada and Australia are seen to be least affected by the recent recession.
Most affected countries during recession?
In the recent recession the main affected countries are The U.S.A ,Europe, Japan and China and Asia as well.
How severe was the recession in 1998?
There was no recession in 1998. See the NBER website for US data.
Can the 2008 US recession cause veterans' disability benefits to be canceled?
Its a Pickle!
Is overproduction a cause of the recession?
It was a cause of the depression, and probable the recession but I'm not sure
Can chewing ice cause gum recession?
no it can't but it isn't very healthy for gums but it won't cause recession
How much it will cost to relieve us from the recession?
It will cost about 850,000,000,000 dollars to relieve us fro the recession
What makes a country to be headed into recession?
Bad economic and fiscal policies may cause a recession.
Will the US go into recession?
It has.
What caused the recession in the US in 2001 to be mild?
The suspect lending practices was one of the causes of the recession in the US in 2001.
What most reflected the cause of the rapid change in the percentage of unemployed people in the US from 1927 to 1933?
by the New Deal.
Which countries are least affected by the recession?
Countries such as Turkey, India, China, Qatar, Canada and Australia are seen to be least affected by the recent recession.
Most affected countries during recession?
In the recent recession the main affected countries are The U.S.A ,Europe, Japan and China and Asia as well.
What cause current recession?
The current recession was caused by a failure of children to properly make their beds in the mornings.
What is relationship between inflation and recession?
The relationship between inflation and recession is that a recession will cause inflation to go down. The reason for this is due to their being less money being spent due to the recession.
