The Great Recession started December of 2007. The Great Recession lasted longer then prior recessions it lasted for about 20 months which is still not as long as the Great Depression. The great Recession was caused by banks who lend out money irresponsibly. The upper classes were not affected much but it payed a great toll on the lower classes, putting them deeper and deeper in dept. Something that kept the Great recession going was the fact that prices were beginning to go up while people still had no money.
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