Briefly outline the happenings: The great recession of 2008


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Briefly outline the happenings

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School: Duke University


The Great Recession—which officially lasted from December 2007 to June 2009—began with
the bursting of an 8 trillion dollar housing bubble. The resulting loss of wealth led to sharp
cutbacks in consumer spending. This loss of consumption, combined with the financial market
chaos triggered by the bursting of the bubble, also led to a collapse in business investment. As
consumer spending and business investment dried up, ma...

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