Impact of the Great Recession in Texas and the Rio Grande Valley

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Short-Term and Long-Term Impacts of the Great Recession and Related Financial Crisis in Texas and the Rio Grande Valley Introduction The 2008 financial crisis erupted straightforwardly because of the breakdown of the lodging move in the United States in 2006, which brought about give or take October 2007 called sub- prime mortgages. The effect of the credit emergency started to show a to a great degree genuine since right on time 2008, first tainting the U.s. monetary framework, and after that worldwide, having thus a profound liquidity crisis and creating, in a roundabout way, other budgetary phenomena, for example food crisis, unemployment, different stock crumples and on the whole, a financial emergency locally in USA and internationally. Numerous business experts and economists have called this the "Great Recession" given it the longest subsidence since Second World War (Campello, et al., 2010). This paper aims to discuss the Short-Term and Long-Term Impacts of the Great Recession and Related Financial Crisis on Economic Growth, consumer spending, government revenues and spending, business investment and Unemployment in Texas and the Rio Grande Valley, besides this paper has also discussed Best Policy Initiatives to increase economic growth in Texas and the Rio Grande Valley. Impact of Great Recession on consumer spending in Texas and the Rio Grande Valley "The Great Depression changed consumer behaviour and attitudes for a generation.”It's early to tell whether the 2008 crisis will leave the same psychological scar, but there is a precedent for a big change." The price increase in Texas is already very sensitive, reaching nearly 5 % year on year for the, but already 5.4% for employees has los... ... middle of paper ... ...ysis and Management, 31(1), 160-168. Palley, T. I. (2012). From financial crisis to stagnation: the destruction of shared prosperity and the role of economics. Cambridge University Press. Petr, P., Sirpal, R., & Hamdan, M. (2012). Post-Crisis Emerging Role of the Treasurer. European Journal of Scientific Research, 86(3), 319-339. Rhee, C., & Song, E. Y. (2013). Trade Finance and Trade Collapse during the Global Financial Crisis: Evidence from the Republic of Korea. Taylor, J. B. (2009). The financial crisis and the policy responses: An empirical analysis of what went wrong (No. w14631). National Bureau of Economic Research. United States. Financial Crisis Inquiry Commission. (2011). Financial crisis inquiry report: final report of the national commission on the causes of the financial and economic crisis in the United States. Government Printing Office.

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