great recession crisis

The main cause of Great Recession

Recession is a part of what many economists will refer to as Business cycle. The up and down of the economy. The great recession, generally referring to the US 2008 recession was caused by several factors, all happening at the same time and at the end causing a severe decline in the global economy.Recessions are characterized by declined inflations and high rates of unemployment. Recessions follows periods of high growth in economy also referred to as boom. Yet the higher the boom, the higher the downturn and the deeper the recession.