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A First Person's View On the Economic Recession 2008

About Me 

Even during the months preceding the most hurting economic event of the new millennium, was there anyone who could have claimed with certainty how difficult the forthcoming months would be? When I conducted a research on Google to find out if there was indeed someone who might have known and issued a warning pertaining to the 'ides of March', to my surprise I discovered that there were a few economists and analysts who had issued early warnings. However, they were immediately brushed aside and their views dismissed by the wave of hand because the US Government at that time with its army of advisors was over-confident that their country's economy was so strong that it could weather any storm no matter how rough it was. 

My interest in the economic crisis arose thanks to having invested in the stock market and needless to say I was one of the many investors who could do nothing but watch helplessly as stocks plummeted by a few inches every day. While the quantum of financial loss that I suffered during those one and half years is measurable, something that is till difficult to fathom pertains to the degree of mental and emotional stress that I went through. But when I heard that even Warren Buffet, the perfect investor in the world, was unprepared and suffered huge losses, there was at least some consolation. 

That said, this entire episode piqued my curiosity to the point that I decided to investigate the entire scenario myself and it is with the intention of presenting my findings to the world that I created this website. I felt that an incident of such mammoth proportions could not be simply forgotten and relegated into the archives of the past. It was meant to be treated as a wake-up call for all concerned which conveyed the message that even the seemingly strongest economies had their flaws and paid the price for ignoring the loopholes. 

True though it is that economic events are difficult to predict, the 2008 recession differed in the sense that it was in making several months previous to the actual collapse. Therfore, its occurrence was more due to complacency on part of the concerned authorities than any sudden economic disaster. If the US Government and Federal authorities had been mindful of the early symptoms, there was a possibility of averting the crisis before it acquired such massive proportions. 

Of course, these are my personal views and much of the content presented on thiis website is a reflection of my painstaking research. By documenting my findings, I hope that the human race learns from its mistakes and in future, any such situation is spotted and acted upon well in advance. 

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editor@howardsview.com.