Most people nowadays assume that their hard earned money is pretty safe right? You would think that with all the guarantees and safety protocols banks have in place along with all the laws and rules, banks couldn’t get away with taking money from people. Well safe to say that your money is reasonably safe in this day in age, now that there are actually money rules and regulations put in place to keep your money where you desire it to be. But not so long ago, there were some pretty bad people doing some pretty bad things that seriously upset the balance of the economy.
The 2000's a prosperous time leading to new innovations and an economic boom in commodities after the 1980's and the 1990's due to a higher demand in the products, such as food stuffs, metals, oils, fuels, and much more; but at the same time there was also a rise in the availability of these products, due mainly in part to china becoming a main exporter of many of these items. Technology was also hitting an all-time high, with the use of the internet skyrocketing, people were able to communicate at an alarming rate something which people had never seen before; this contributed to a much higher globalization. Yes, it is safe to say the early 2000's seemed like a …show more content…
The 2007 Great Recession was and economic decline that struck worldwide and varied from country to country, experts say this stared in the early 2000's and did not end until roughly about the 2010's. Experts also say that this was mainly due to the financial crisis of 2007-2008, which can also be referred to as the "global financial crisis" or the "2008 financial crisis". The financial crisis is believed by economists to be the "worst financial crisis since the economic collapse since the 1930 during the Great Depression." High mortgage approval rates, combined with risky loans, and eventually the collapse of major investment banks led to this huge financial
The 2000's a prosperous time leading to new innovations and an economic boom in commodities after the 1980's and the 1990's due to a higher demand in the products, such as food stuffs, metals, oils, fuels, and much more; but at the same time there was also a rise in the availability of these products, due mainly in part to china becoming a main exporter of many of these items. Technology was also hitting an all-time high, with the use of the internet skyrocketing, people were able to communicate at an alarming rate something which people had never seen before; this contributed to a much higher globalization. Yes, it is safe to say the early 2000's seemed like a …show more content…
The 2007 Great Recession was and economic decline that struck worldwide and varied from country to country, experts say this stared in the early 2000's and did not end until roughly about the 2010's. Experts also say that this was mainly due to the financial crisis of 2007-2008, which can also be referred to as the "global financial crisis" or the "2008 financial crisis". The financial crisis is believed by economists to be the "worst financial crisis since the economic collapse since the 1930 during the Great Depression." High mortgage approval rates, combined with risky loans, and eventually the collapse of major investment banks led to this huge financial