2007-2008 economic recession

GPTKB entity

Predicate	Object
gptkbp:instanceOf	economic crisis
gptkbp:affectedArea	gptkb:Australia gptkb:Canada gptkb:China gptkb:Germany gptkb:Greece gptkb:Iceland gptkb:Ireland gptkb:Italy gptkb:Japan gptkb:Spain gptkb:United_Kingdom gptkb:United_States
gptkbp:alsoKnownAs	gptkb:Great_Recession
gptkbp:cause	gptkb:financial_crisis_of_2007–2008 subprime mortgage crisis housing bubble burst
gptkbp:effect	bank failures global economic downturn high unemployment foreclosures decline in GDP
gptkbp:endDate	June 2009
gptkbp:followedBy	gptkb:COVID-19_recession
gptkbp:governmentResponse	stimulus packages monetary easing bank bailouts
gptkbp:housingPriceDecline	US home prices fell over 30%
https://www.w3.org/2000/01/rdf-schema#label	2007-2008 economic recession
gptkbp:location	gptkb:United_States Global
gptkbp:notablePerson	gptkb:Barack_Obama gptkb:Ben_Bernanke gptkb:George_W._Bush gptkb:Henry_Paulson gptkb:Timothy_Geithner
gptkbp:precededBy	gptkb:early_2000s_recession
gptkbp:relatedEvent	gptkb:US_auto_industry_crisis gptkb:Occupy_Wall_Street gptkb:European_debt_crisis Quantitative easing Federal Reserve interest rate cuts
gptkbp:significantEvent	gptkb:AIG_bailout gptkb:Bear_Stearns_collapse gptkb:Lehman_Brothers_bankruptcy gptkb:TARP_(Troubled_Asset_Relief_Program)
gptkbp:startDate	December 2007
gptkbp:stockMarketDecline	Dow Jones fell over 50%
gptkbp:unemploymentPeak	10% (US, October 2009)
gptkbp:bfsParent	gptkb:110th_United_States_Congress
gptkbp:bfsLayer	6