When Did The Recession Start And What Caused It?
Our Current Economic Crisis
Our Current Economic Crisis
While we continue to endure the greatest economic crisis the world has ever seen many are still left wondering: when did the recession start? To explain the complete history of the mechanisms leading up to this economic recession would take much more time than either of us have here today.
The true reasons behind this crisis go back several hundreds of years and span the entire history of the United States. While this is too much to cover now, continue reading and I'll touch on a few main topics that have led to this recession and how you can protect yourself from the worsening economy.
The Mechanisms
When did the recession start? For the purposes of this discussion we can go back about 12 years to the time of the Clinton administration. President Clinton, under the advisement of his secretaries, signed several key legislations which essentially deregulated the entire banking industry sending it back to the time just before the Great Depression.
Many of you, especially those who play the stock market, may remember the dot com boom of the early 21st century. This was in no small part due to the significant deregulations in banking. Previous legislation prevented investment banks from performing other banking activities such as insurance. However, now it had become a free for all leading to an extraordinary boom time that was based in nothing tangible.
After this bubble burst, the banking industry shifted its "legitimate" pyramid scheme antics to the sub-prime mortgage lending markets. As all bubbles, this one too burst after just a few years leading to the foreclosure crisis. But make no mistake, those top 1 to 2 percent of the wealthiest people made money going in and coming out of these bubbles.
What's Next
I'm not going to sugar coat it for you, the future holds more of the same for now. Despite what the mainstream media would have you believe we are certainly not in anything that can be called an economic recovery. In fact, we are moving ever closer to an economic depression that threatens the global economy for years to come.
The single most important thing you can do today to help protect your financial future is to learn everything you can about our economy, our currency system and the forces behind the market fluctuations.
The Language of Money
In order to effectively education yourself you're going to have to get used to the language of money. Seek out the long-term answers to: when did the recession start? Trust me, the language is intended to confuse and frustrate you so that you will not want to continue learning. I've even spoken to investment bankers who can't tell me what derivatives are! Don't let that stop you from learning and understanding everything you can. Arm yourself with knowledge and protect your financial future.
by: Ylva Jansson
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