|
gptkbp:instanceOf
|
economic crisis
|
|
gptkbp:affectedArea
|
gptkb:Europe
gptkb:United_States
worldwide
|
|
gptkbp:cause
|
subprime mortgage crisis
global financial crisis
|
|
gptkbp:duration
|
approximately 18 months in the US
|
|
gptkbp:endDate
|
2009
|
|
gptkbp:followedBy
|
gptkb:COVID-19_recession
|
|
gptkbp:GDP
|
significant
|
|
gptkbp:housingPriceDecline
|
significant in US and other countries
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
The Great Recession
|
|
gptkbp:impact
|
bank failures
foreclosures
decline in consumer wealth
recession in multiple countries
widespread job losses
|
|
gptkbp:legacy
|
rise in populism
increased financial regulation
long-term economic effects
changes in central bank policy
|
|
gptkbp:mediaCoverage
|
extensive
|
|
gptkbp:notableCase
|
gptkb:Troubled_Asset_Relief_Program
gptkb:Dodd-Frank_Act
gptkb:American_Recovery_and_Reinvestment_Act
|
|
gptkbp:notableEvent
|
bank bailouts
collapse of Lehman Brothers
housing market crash
|
|
gptkbp:notablePerson
|
gptkb:Barack_Obama
gptkb:Ben_Bernanke
gptkb:George_W._Bush
gptkb:Henry_Paulson
|
|
gptkbp:peakUnemploymentUS
|
10% (October 2009)
|
|
gptkbp:precededBy
|
Early 2000s recession
|
|
gptkbp:relatedTo
|
gptkb:2008_financial_crisis
gptkb:European_debt_crisis
|
|
gptkbp:response
|
stimulus packages
quantitative easing
interest rate cuts
|
|
gptkbp:startDate
|
2007
|
|
gptkbp:stockMarketDecline
|
major global indices fell sharply
|
|
gptkbp:unemploymentRate
|
significant
|
|
gptkbp:bfsParent
|
gptkb:Crash_Course_Economics
|
|
gptkbp:bfsLayer
|
7
|