The Current Economic Crisis
There are very few of us, less than 2 percent actually, who have been left unaffected by the economic recession. People keep asking “When did the recession start?” and the answer is a bit long winded. Unfortunately, to offer a comprehensive answer to that question I’d have to have a much longer format than this article.
The true reasons behind this crisis go back several hundreds of years and span the entire history of the United States. While this is too much to cover now, continue reading and I’ll touch on a few main topics that have led to this recession and how you can protect yourself from the worsening economy.
The Mechanisms
Exactly when did the recession start? Let’s just go back to 1999 for the purposes of our brief discussion here. During that time President Clinton, under the advisement of his trusted secretaries, signed a bill that lifted regulations from the banking industry that had previously been put in place after the Great Depression to avoid repeating that awful crisis. These deregulations gave back to the banking industry the same loopholes they used to manipulate the market during the 1920s and 30s.
Most of us, especially those who watch the stock market can remember the dot com bubble of the early 21st century. The banking deregulations played a big part in this unsustainable bubble but make no mistake, the wealthy bankers made billions before, during and after that tech market crash.
After the tech bubble burst banks simply moved their cash generating machines to the sub-prime mortgage lending market in an ingenious way of continuing to squeeze the money from the middle class before they were to be found out. Once this bubble burst also, the foreclosure crisis followed effectively leaving the working people footing the bill in this “legitimate” pyramid scheme.
What the Future Holds
Unfortunately the outlook is not good for the immediate future. The economic recession continues to devastate families across the country while the main stream media tries to tell you we’re in a recovery phase. It is important to note that more millionaires were made during the Great Depression and that is repeating itself today. In today’s Great Recession there are more billionaires today than any other time in history.
The single most important thing you can do today to help protect your financial future is to learn everything you can about our economy, our currency system and the forces behind the market fluctuations.
The Language of Money
In order to effectively education yourself you’re going to have to get used to the language of money. Seek out the long-term answers to: when did the recession start? Trust me, the language is intended to confuse and frustrate you so that you will not want to continue learning. I’ve even spoken to investment bankers who can’t tell me what derivatives are! Don’t let that stop you from learning and understanding everything you can. Arm yourself with knowledge and protect your financial future.
Have you been asking “when did the recession start” but not finding any answers? I can help you learn how to start protecting yourself and your financial future from the economic bailout union. Don’t wait until it’s too late!