The 2008 – 2012 global recession is a marked global economic decline which effected the entire world’s economy. Falling international trade, high unemployment rates, inflation, low consumer confidence, escalating petroleum and food prices, lack of availability of loans, decisions to save some politically connected banks but not others and lack of a consensus on an answer are some of the features of this Great Recession. But is this happening for the first time?
The answer is No, THIS HAS HAPPENED BEFORE. Continue reading