The Current Economic Crisis

We are all suffering from the effects of the worst economic crisis the world has ever seen. Many ask me “When did the recession start?” That’s a tough question to answer as the mechanisms leading up to the current recession spans the entire history of our country.

Many of the reasons behind our recession go back several hundred years and span the history of the United States, its banking industry and its monetary system. Even though I cannot cover everything, continue reading and I’ll explain a few of the more recent elements that led to our current crisis and what you can do to start protecting yourself.

“Modern” Mechanisms

So, when did the recession start? Well, for the purposes of this short article let’s just go back to the not so distant past during the Clinton administration. In 1999, President Clinton under the advisement of his cabinet, passed legislation that effectively deregulated the banking industry. These regulations had been put in place after the Great Depression and by lifting them, the banks were right back where they were in the early 1930s and able to get away with the same shenanigans they had back then.

Many of you, especially those who play the stock market, may remember the dot com boom of the early 21st century. This was in no small part due to the significant deregulations in banking. Previous legislation prevented investment banks from performing other banking activities such as insurance. However, now it had become a free for all leading to an extraordinary boom time that was based in nothing tangible.

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.

Moving Forward

I’m not going to sugar coat it for you, the future holds more of the same for now. Despite what the mainstream media would have you believe we are certainly not in anything that can be called an economic recovery. In fact, we are moving ever closer to an economic depression that threatens the global economy for years to come.

The most important thing you can do to help secure your financial future is to start learning everything you can about our global economy, our national monetary system and the true mechanisms behind market fluctuation.

Words as Weapons

The banking and financial industry has a long history of creating a smoke screen with complicated wording and industry-specific language. Use that weapon against them by learning to speak this language of money, you’ll find that the truth behind those complex word games are actually quite simple, and also very troubling. Arm yourself with knowledge and start protecting your financial future today.

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 current economic issues. Don’t wait until it’s too late! Unique version for reprint here: When Did The Recession Start And What Can I Do About It? Find The Answers Here.

categories: current economic crisis,foreclosure crisis,sub-prime mortgage,economic recession,financial crisis,economic issues,GDP,economy,recession