Remake of 1930s Depression v. 2008 Financial Crash by LaNya Townes

slowing consumer demand

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mounting consumer debt

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A rash of bank failures

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reckless speculation: people put their savings into stocks and the stock market underwent rapid expansion, reaching its peak in August 1929.

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banks had an excess of large loans that could not be liquidated.

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2008 financial crash

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Congress passed a bill worth $800 billion in 2009 to promote economic recovery.

2008 financial crash

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2008 financial crash

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2008 financial crash

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The US Federal Bank Reserve took monetary policies to prevent the crash from further damaging the global economy.

The global financial crisis resulted from the bursting of the US housing bubble during 2005–06.

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The US GDP contracted by ~4%, while the global GDP declined by ~5% during the period.

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During the Great Recession, unemployment in the US peaked at ~10% in October 2009.

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The Fed slashed the interest rates and pumped a significant amount of liquidity for the 2008 crisis

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into the system.

The Fed increased the interest rates to restrict speculation in the securities market for the great depression.

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Effects of the great recession were only seen for around 19 months, while effects of the great depression were seen for almost a decade.

Both the events followed periods of excellent economic growth.

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Both the events were followed by the government’s massive involvement in the economic alleviation and ushering in several policies and regulations.

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2008 financial crash

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Congress passed the Dodd-Frank Act in 2010 to institute banking regulations, preventing another financial crisis.

considered the two greatest economic disasters experienced in the US in the last one hundred years.

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the U.S. economy suffered a steep output decline that followed a long economic expansion marked by financial excesses

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the great depression

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Congress approved the New Deal from President Franklin Roosevelt, providing $41.7 billion for domestic program funding.

2008 financial crash

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ignore the links below this one