2008-Present: FINANCIAL CRISIS

Considered to be the worst financial crisis since the

Great Depression of the 1930s.
Crisis was triggered by the bursting of the U.S. “housing bubble” caused by rising default rates on subprime and adjusted – rate mortgages, and a sharp downturn in the housing market.
Directly resulted in the collapse of investment firms Le

hman Brothers, Bear Sterns, Merrill Lynch, car manufacturer GM, and the government takeover of Fannie Mae and Freddie Mac.
U.S. economic issues reverberated across the globe, init

iating financial crisis in many other

countries

Financial Toll

Estimated loss of $6-$14 Trillion, or $50,000 to $120,000 for every U.S. Household.
8.8 Million jobs lost according to Bureau of Labor Statistics.
4 million completed home foreclosures and 8.2 million foreclosure starts.
28 Million Americans relied on food stamps to survive during 2008-2013.

9% increase in male suicides in U.S. and 13.3% in European Union. Estimated 0.8% rise in suicides for every 1% increase in unemployment.
Significant increase in reports of depression and anxiety with less access to mental health services.
Reported decrease of alcohol and drug consumption, but increase in binge use of both.