What are the short- and long-term effects of the global recession in 2008?

THe short term effects of the recession are high unemployment caused by failed

businesses and other jobs that were cut back due to the existing economic conditons. In addition there will be more homelessness as people who lose

their homes due to foreclosure as well as their jobs may find themselves with

no means of income for living. Crime will increase due to people having

less. People may stay home more and not use credit cards as easily as they

once did fearing not having the income to pay bills.

The long term effects are that the government will be forced to get involved

in ways to keep the economy from further bankrupcy, i.e, as well as

trying to find ways to increase employment. This will take a rather

lengthy amount of time so in the meantime organizations that offer

help for those in need may be overloaded beyond their capacities to

serve as well as faced with fewer donations than before.

First answer by ID1276379349. Last edit by ID1276379349. Question popularity: 1 [recommend question]