The recession began with the subprime ? mortgage crisis and the United States housing market correction in August 2007. This crisis affected the whole world, and everyone has suffered. In fact, this crisis has entraine? the fall of power of the famillies, financial reason of the increase in prices. ??
The causes of the recession is the currency crisis, energy crisis, underconsuption, and overproduction.
The effects of the recession are very important. First of all, a lot of banks closed, because of bankruptcies. Then, there is the credit crunch which followed deflation, foreclosures and in conclusion, there is a lot of unemployment. In the world, nowadays, a lot of people get cold feet about the future of the economy. I am of this opinion because in my country, the president is trying to find a solution to improve the situation but nothing lasts long. My vision is rather pessimistic and I think having this vision at my age is rather sad. What is the future for generations to come? I hope the situation will improve because if the world continues like that, a war will eventually happen.