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Current Economic Crisis
According to some estimates, the percentage of those who've been left unscathed by the economic crisis is below 2%, a disturbing number to say the least. This has made many people ask the question, "When did the recession start?" Of course there have been few simple, straightforward answers. Certainly, it is problematic even to provide a sufficient answer in the limited context of this article.
The answers are more complex since you must understand that the reasons for recession can be traced back into our country's history and involved both the banking and monetary systems. It would be impossible to explain all of the causal relationships here now, but if you will keep reading I will outline some of the more immediate elements that have produced the current economic circumstances and then give you some ideas for protecting your interests.
Recent Factors
So when did the recession start? To answer this for our purposes, I ask that you look back at the Clinton administration in 1999. At the time, President Clinton signed a piece of legislation that effectively removed a set of banking industry regulations that had been in place since the Great Depression of the 1920s and 30s. This deregulation allowed the banks to manipulate the markets in ways similar to those practiced during the same period.
If you can remember this period, particularly if you had an eye of stock performance, you may recall the tech market and dot com booms that followed deregulation. The resultant financial gains bore all of the signs of being an economic bubble - and of course, it was one that failed as all bubbles do, leaving small businesses and many investors in terrible financial situations.
Following the bubble, the banking sector changed its focus to sub-prime mortgage lending markets, employing technically legal practices, but ones that were hardly sustainable. Again, another bubble resulted. A few years, later, the foreclosure crisis was a result. Understand that top 1 to 2 percent of the wealthiest people still turned a profit both at the beginning and the end of the bubble.
Where Next?
Unfortunately, good news is in small supply since conditions are likely to worsen before they turn around - if they improve at all. The financial security of millions of families across the U.S. is threatened by the current economic recession. Still, the major media sources are attempting to convince us that we are starting to recover, even as the jobs continue to decline and more houses are foreclosed.
Your best strategy is simply to education yourself about the recession, the economy, and all of the factors that affect the performance of markets.
Language Is Power
It has long been the policy of the banking and financial industry to obscure the bare facts behind industry jargon and complicated legalese. Learn to understand the language of finance, so you can peel back the layers to get to the truth. You can answer others when they ask, "When did the recession start."
About this Author
Anita de Santiago is an Internet Marketer devoted to show you how to start an online business.
She is a member of a new affiliate program and get 100% affiliate commissions and you could have the money deposited directly into your bank account when a sale is made.
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