Recession 2008-2009, your takes on it?

United States
December 12, 2008 1:49pm CST
What do you feel is the cause for the Recession we are in/are about to go into? Was there was particular event that caused the world to "shift" a little bit?
2 responses
gmaxxx
@gmaxxx (142)
• India
13 Dec 08
EXACTLY....THE SUB PRIME CRISIS STARTED IT ALL CURRENT SCENARIO IN INDIA 39 RS = 1 $ in jan 2008 47 rs = 1 $ in nov 08 rupee is depreciating against dollar coz many foriegn investors took money out of india to flow in us and hence recession hit india badly
Averiex
@Averiex (83)
• United States
13 Dec 08
I hadn't known that, but that's terrible as well. Where do you see our world in a matter of a few months? Years?
xParanoiax
@xParanoiax (6987)
• United States
29 Jan 09
Lol, people saying this crisis had a single cause make me laugh -- no offense to them, of course. But I believe that's a tad oversimplistic. It was a whole bunch of problems that developed. They're all connected, even if several of them came up independently from the others. It all just started to splat around the same time because the entire mass trend was unsustainable. Frankly, it's amazing these festering problems lasted as long as they did without splatting. Anyway, this recesson is CRAZY. It'll be interesting and a little scary to see how it progresses into this year.