Recession - Where did it start?

After writing some posts on recession I wanted to look up the reasons for this global recession. And of course feel free to comment on this post. I have just shared my opinions and reviews here.

“2008 recession was previously predicted” this was a statement made by several economists. What the hell they were doing then? Is a common man’s query. Well, 2008 recession was marked up by high oil prices which in turn led to high food prices. Governments should have taken measures to control these stuffs earlier. This hike in oil price got reflected in the food prices which eventually resulted in high inflation. This is when most of the governments got alert and try to bring it down. The worst part here is that some Governments failed to do even this. They let allowed the inflation to touch its peak ? . The inflation naturally led to substantial credits that in turn leading to bank collapses. Bank collapses caused panic leading to stock market crashes.

However I feel that this global crisis did some good!! All the big nations came forward together to fight this crisis. It’s really nice to see the developed countries holding hands for the others to come out of this recession.

But the Governments still have a long way to solve this crisis. Its also the responsibility of every citizen to react smartly to this tough situation. People should not get panic about this crisis and should contribute to ease the situation in some way.