Classmate 1:Â Recessions are most depressing in terms ofÂ economy,Â andÂ everything related to financial industry. The recession occurred in 2007-2009 is one of the most severe recessions ever occurred which had many impacts on market and industry and financial firms and economy. Itâ€™s also calledÂ â€œTheÂ Great Depressionâ€ because of its impacts unlike other depressionsÂ (Gwendolyn, 2010).Â The other depression occurred in early 1930â€™s which almost stayed over a decade and impacted the whole economy and after decade of the depression the economy started growing in a positive curve. The recessions which we have in 1930â€™s and 2007- 2009 theyâ€™re preceded with an inflation in all the industries and financialÂ and housing markets. When it comes to the depression of 2007-2009 it occurred due to the financial and housing markets these are the major portions where it impacted for a recession in thew industry and the financial markets and many people jobless.Â One of the key factors was a rise in demand for secure assets, which led the returns on investments to gradually decline. As a result, investors began to invest more money with larger returns, which eventually became typical in the market, prompting them to take more risks. Their underpricing riskÂ ledÂ to financial catastrophes in the housing industry.Â Economists blame the collapse of the subprime mortgage market â€“ defaults on high-risk home loans â€” for causing a credit crisis in the global financial system and a steep reduction in bank lendingÂ (Gwendolyn, 2010).Â In the mortgage industry the main things which turned into recession is due to the lenders started giving out the loans to the people who had less creditÂ this thingÂ whichÂ kept down the market because the securities which they bought with the loan had the significant value decreased in the market due to this there is liquidity issues in the investmentÂ firms,Â and which turned into recession in the market. If the government gad stringent rules and regulations and if the firms start strict rules and regulations for issuing credit this may avert the recession.
One of the reasons for the recession is due to inconsistent financial policies and rules and regulations in the US government which turned to financial crisesÂ (Verick, 2010).Â The government administration had adopted many financial strategies to overcome the recession, but it never worked in mean time.Â These measures also harmed the country’s economic progress, causing a worldwide imbalance.
According to most accounts (Gwendolyn, 2010), the great depression that lasted from 2007 to 2009 was one of the worst in the 21st century after “The Great Depression” in the 1930s.The 1930s’ great depression lasted almost a decade, after which businesses’ economies began to improve. In both depressions, inflation came before the downturn in the economy. The numerous occurrences in the housing and financial markets are largely to blame for the great recession that lasted from 2007 to 2009.The gradual decline in investment returns can be attributed in large part to the rising demand for safe assets. Investors increased their risk-taking as a result by investing more money with higher returns, which eventually became commonplace in the market. They took a risk by underpricing, which contributed to the housing industry’s financial crises (Gwendolyn, 2010).The mortgage industry was hit in a similar way because lenders gave loans to people who didn’t have good credit, which hurt the value of mortgage-backed securities. Long-term investment firms experienced liquidity crises as a result of the abundance of mortgages available on the market, resulting in the market’s recession. The recession could have been avoided if strict government policies regarding mortgage securitization had been in place (Gwendolyn, 2010).
According to comments made in an article by Verick, the US government and administration played a significant role in all of the effects that markets experienced during the Great Depression. (Fahrurrozi, Muh. 2021) The government’s policies played a role in one of the reasons. Before the recession, poor financial policies and a lack of transparency by the US administration are mentioned in the journal. Throughout the crises, the US administration used a variety of political and financial strategies that were not strong enough. Additionally, these policies harmed the nation’s economic growth, resulting in global imbalance.
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