What Caused the Recession of 2001?
Afghanistan, 9-11, inflated stock market, failure of technology advances, and the ease of getting credit caused America to overspend, under save, and over extent their wallets; this included the fenderal government. A number of other factors contributed heavily to the recession woes of 2001 as described below from an article at itulip.com. (http://www.itulip.com/recession2001.htm) The standard definition of a recession looks at the value of economic output adjusted for inflation. This measure is known as the “Real Gross Domestic Product” (GDP). Two consecutive quarters of decline in Real GDP is generally considered to be a recession. By this definition, the United States had a recession in the first three quarters of 2001. Not since the 1920s has the U.S. headed into recession following an extended period of financial and credit market excess as occurred between 1996 and 2000. To expect the kind of sharp yet brief recession such as those the U.S. has enjoyed since W.W.II is an excercis
