THIS AMERCAN LIFE

p Running Head : American Life

Abstract

When a country 's Gross Domestic Product (GDP ) growth registers a decline for six or more months in a year on a continual basis or fails to recover for years together , it results in a recession . Generally , in any expanding and fast-growing economy , after an initial growth phase of six to ten years , it is followed by a slowdown or a recession for a minimum of six months to a maximum of two years . This is the normal cycle that any growing market follows in a

normal and regular economy . The recession is an unfortunate occurrence and it still pretty fresh in the mind of the people all around the world . Unfortunately , mistakes of a similar nature were made time and again and this repeat performance has again resulted in a scary and terrifying financial crisis all over again . Large business conglomerates have also suffered huge losses due to the recession this time

Complete and total mismanagement of funds on an enormous scale accompanied with greed , manipulation of funds and trickery has resulted in the current economic slump . Talking about the Bush government that definitely worsened the situation and triggered it in the first place , a lack of business intelligence resulted in an alarming deficit overnight George W Bush 's amazing 1 .3 trillion tax cut was a direct result of the unwinding of shirt-term capital gains and this worsened the situation This bonanza offered came at a heavy price . The stock market was first...