QA › Economics › CRASH outcomes of the 2008 USA
What are the outcomes of the 2008 financial crash in the United States?
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.