What is Second Great Contraction?
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The worldwide financial crisis of the late 2000s that started with widespread the American subprime mortgage defaults and led to the collapse of many overleveraged Wall Street firms such as Bear Stearns and Lehman Brothers. The resultant recession has been deep and both monetary and fiscal policy have taken unprecedented steps in order to curtail its negative impact in efforts to prevent the credit markets from freezing and to stimulate spending.
Everyone keeps comparing the Second Great Contraction to the Great Depression, but only time will tell how similar they truly are.
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Random Words:
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Acting out of the norm of one's normal behavior in a social setting....usually caused by excessive drinking.
He is usually such a ..
