United States’s Financial Collapse: Year Of 2008
Nostalgia is the best word to describe this event, as the theme attributes similarly to 1929’s infamous financial crisis known as the “Great Depression”. While the Great Depression is subject for debate behind the causes of it’s lasting economic drought. Most information sources alluded to an occurring “stock market crash” in 1929. What specific market are these sources referring to?
On the contrary, it was clear; 2008’s Financial Crisis accounted for America’s failure in sales through the housing and automotive markets which began when stock prices declined in 2007. Who and/or what is to blame for this economic catastrophe that help contribute to one of the greatest recessions in American History? One factor in this equation would be the notorious money lenders themselves, whom are the bankers in America.
Apparently, the banks have the most control over the average investor's cash flow whom are utilized when investors want to manage it effectively. The banks are the most convenient source for aiding jump-starting businesses among investors. However, the banks heavily rely on economic stability in order to be effective. This analysis leads to question “what” caused the economic collapse of 2008?
I believe the criteria of this question should be; the most demanded resource in the stock market. The website resilience.org, displayed a line grid based on stock market price rates from January 1986 to July 2008. The evidence shows oil to be the main cause of inflation in the American economy as testimony for 2008’s financial recession. As acknowledged, the data on this website thoroughly shows the reason behind the decline in U.S housing and automotive sales and my skepticism over the military’s involvement in the Iraq war.
America as the world’s largest natural gas producer in 2010. Suspiciously enough, the set deadline of the U.S military's withdrawal of Iraq was in 2011 which leads me to question the reason behind their involvement to be wholeheartedly associated with the extraction of foreign oil. Given the fact that statistics behind the yearly oil market rates consistent growth between 2003 to 2008, gives me reason to suggest the desperation of America’s economic stability to be depended on oil production.
In conclusion, the 2008 Financial Meltdown in the U.S, simply spawned from the fundamental imbalance between competitive markets to sustain economic stability. I've also determined America's exploration of oil to extend farther than shale rock excavation; but also the U.S military’s involvement in the Iraq war, aimed towards the excavation of foreign oil to uplift America from recession by means of economic necessity.