2008 Recession Essay

Since the birth of the United States over two-hundred forty years ago, the citizens of this country and of all civilization throughout the world, have seen this country grow to extraordinary heights in terms of production, the armed forces, population, and also, the economy. Likewise, the world has also seen the United States economy drop tremendously during times such as the Great Depression of the 1930s, and most recently during the housing market crash of 2007. The changes in politics that occur on a yearly basis have both created a positive and negative outlook of today’s economy. The most recent and important political change that will decide the growth or decline of the economy for years to come was the inauguration of the 45th President,

According to The Balance, a financial website brand owned by About.com, the causes of the 2008 recession have been blamed on certain factors such as the decline of manufacturing orders that began in 2006, and the housing market crash in 2007 which created a domino effect that lead to recession. According to Investopedia, in the short time before the 2008 recession, stocks were at an all time high in October of 2007. Less than a year later in September of 2008, stocks were down over 20%. This is eerily similar to today’s massive growth in the economy which could eventually fall like 2008’s. One of the largest indicators of where the economy is heading stems from the current politics of the United States. Economic plans of the Trump Administration such as an investment in infrastructure, promises to lower taxes, and bringing jobs and production back to America, have arguably been some of the reasons for such a large amount of speculative growth in the economy. Unless Washington does in fact follow through on their end of the bargain, the growth that our economy is seeing today can turn in the opposite direction in the blink of an eye. Some signs of a future recession of the economy have come just recently from the unexpected unemployment increase. According to CNBC, in March of 2017, 98,000 jobs were created although it was estimated that 180,000 were