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CRASH outcomes of the 2008 USA

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What are the outcomes of the 2008 financial crash in the United States?
asked Jul 31, 2017 in Economics by Jennifer

1 Answer

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According to the CBO (Congressional Budget Office) assessment, each American household had on average lost around $5,800 of income - The United States lost over $7 trillion in stock wealth - More than 5 million American citizens had lost their jobs; the rate of unemployment level had risen to 10% - Nearly every American family suffered a significant decrease of incomes - The amount of patent applications, numerous scientific research, and innovations had decreased drastically. These are only the most noticeable and immediate outcomes of the crisis. Its long-term effects can be still observed, and currently experts are seeking ways to prevent it from happening again.
answered Jul 31, 2017 by admin (2,270 points)