How was that same date but with the financial crisis ?
The U.S. central bank had after the stock crash at the beginning of the century, lowered its key interest rate considerably. This allowed the economy supplied with cheap credit and a watchtower be maintained. More and more banks financed more and more private customers their homes. the policy was intended. For decades: every American his own house. Less and less was seen on the risk, as housing prices rose. The lazy real estate loans were packaged into complex lily plant objects and passed to other banks and investors worldwide. Many banks have the risk underestimated and were suddenly unable to pay.
Then in September 2008, the investment bank Lehman Brothers filed for bankruptcy, the banks did not trust each other and the world borrow any more money. A worldwide economic disaster became apparent, because of the lack of confidence among the banks collapse of the global payment systems has been feared. In response, and fear of a new Great Depression , governments large sums of money put into the ailing banks. The central banks lowered interest rates, banks have been working with the borrowed money by the states.
also the real economy came under pressure, because the companies less and less money could borrow from the banks. Orders from the accident; stock prices fell, short-time work or business failures were the result. The government once again put large sums into stimulus to prop up the economy. The countries are heavily indebted.
Currently, many economic experts see growing signs of recovery. Cheap available money had made possible the financial crisis and is now the basis for the next crash. This is not where it is necessary that interest rates will rise again and the banks must repay their borrowed billions from the state, even if this means that the growth slowed down. Otherwise, it comes instead of the dreaded deflation to a inflation.
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