The Impact of the September 2008 Economic Collapse

Due to the sharp decline in economic growth during the rapid period of the financial crisis from September 2008 to the end of 2009, American households lost an average of approximately $ 5,800. [1] Because of intervention to mitigate the financial crisis, the average cost of the federal government is $ 2,050 per household. In addition, during the period from July 2008 to March 2009, the total peak loss to the average inventory of households in the United States and the fall in housing prices totaled nearly $ 100,000. Analysis emphasizes the importance of reducing the occurrence and severity of the future financial crisis and the value of market reform to achieve this goal.

Revenue - As a result of the difference between the economic forecast of the Congressional Budget Office (CBO) in September 2008 and the actual economic performance at the end of September 2008, the economic recession resulted in an estimated US economic loss of $ 648 billion . This is equivalent to an average loss of about $ 5,800 per household in the United States.

Government Response - According to the CBO, expenditure on the federal government's financial crisis through the Troubled Asset Relief Program (TARP) will be the net cost of taxpayers of $ 73 billion. An average of approximately US $ 2,050 per family in the United States

Family values ​​- According to the Federal Reserve Board, the loss of real estate assets in the US from July 2008 to March 2009 amounted to $ 3.4 trillion. This is about $ 30,300 per American house. Furthermore, according to the CBO forecast of September 2008, 500,000 foreclosures began at a sharp stage of the financial crisis more than anticipated.

Stock value - According to the Federal Reserve Board, US stock losses from July 2008 to March 2009 lost 7.4 trillion dollars. Average about 66,200 US $ per household

Employment - Due to the slowing economic growth during the financial crisis, more than 5 million US jobs than had been predicted for the CBO forecast in September 2008

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In September 2008, the financial services company Lehman Brothers went bankrupt. This is the first symptom of the massive global economic crisis. In the UK, most responsibility was assigned to the city due to the reckless subprime loan. The bank enters the government department and the government relieves some of them by using part of it for public ownership. Considering that the conservative party's position in urban regulation was more lenient, Cameron should have been on the shooting line, but he skillfully turned his gun at Gordon Brown. Conservative message is very simple: you sold gold, this happened under your surveillance, you will let the city last. Economically it is not possible to read and write, but the election is effective to connect with the British people just like "not using what you do not have." Brown's arrogance declared that he abolished prosperity and melancholy and he returned to blow up his face

Definitely, things have been very different. The so-called Bush economic expansion was the weakest economic recovery since the Second World War, and the economy faced a recession at the end of 2007. After that, the economy collapsed in September 2008 and President Bush lost 800 thousand people in a month until he resigned. This is the most serious economic crisis since the Great Depression. The latest experiment in supply side economics is done in the neighboring Kansas state. In 2013, Sam Brown Beck pushed the Kansas State Council to impose a large tax cut on rich people. Former Kansas governor predicted without fear of the sunflowers' state's economic prosperity, declaring, "Looking at Texas, Kansas is here."