rchand26

The 3 Main Reasons Behind This Recession

hey can someone really explain to me all this recession thingy in more simple words. i have not really done anything to do with economics (being a medical student) but i do take considerable interest in it. all i can decipher from all this is that the carelessness of the US economic management and excess of credit being taken by the people in the us has really put US in excess debt. therefore, US being the worlds largest economy had alot of other economies like australia dependant on it, i mean not completely but to an extent and thus such carelessness in the US economy has really disrupted the "equilibrium" in the world economy. i cannot seem to get the fact like who decides all this. please or is there any website i can refer to. this is actually interesting.