It's the Economy, Moron

"It's the Economy, Stupid" is a famous slogan that propelled Bill Clinton to the presidency in 1992. Engineered by campagin strategist James Carville, the phrase was used to remind people that the US was in recession at the time. George H. Bush had many successes as president but the economy was his archilles heel. The economic performance of any country shapes the lifestyles of the citizens within them. It effects everything from environment to health, to war and peace and even love and hate. The Housing bubble led to the Subprime Mortgage Crisis, which was then followed by the fall of Lehman Bros Bank, which stirred the Panic of '08. Banks fearing to become the next Lehman's stopped lending, making it hard for even credit worthy companies, to access loans to invigorate their business. People are being layed off everywhere and consumer confidence is lagging. Mass protests are occurring all over the world due to the ripple effect of the Subprime Mortgage Crisis and has already brought down the government of Iceland.

There are many important events occurring in this great big world, but in the end "it's the economy, stupid." ....This blog will discuss this on going story that is the Great Recession.