What is Second Great Contraction?
1.
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.
See
Random Words:
1.
people who suck at playing video games that kills you in some sort of nubish way.
other definition: the act of being a gay nub
ian: th..
