Causes of recession today?
The American banks basically lent more money than they could or should to people they knew couldn't pay back.
So when banks go bankrupt the whole world goes downnnnn..
firstly they'll try to take the person's house to sell it because they didn't pay the mortgage but they might only get 50,000 when they lent 400,000.
so as banks don't have any more money to lend the house prices go Down because no middle/lower class can afford them
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