Question by ijustwannalive23: how much factual info should i include in my essay?
i’m writing a persuasive essay about whether i think there will be another great depression or not. it’s persuasive, so i’m not sure how much actual facts i should include. i know i need some to use as supporting details, but should it be really factual?

thanks

Best answer:

Answer by George
it sould be the true description of the great deparession along with the efforts to move twoard its recovery. Read this account although it a little short on the recovery but it is at the end of this essay.

The late-2000s depression was economic and it began in the United States in December 2007 (and with much greater intensity since September 2008, according to the National Bureau of Economic Research. It spread to much of the industrialized world, and has caused a pronounced deceleration of economic activity. This global depressionhas been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2010. Although the late-2000s depression has at times been referred to as “the Great Deparession,” this same phrase has been used to refer to every recession of the several preceding decades. In July 2009, it was announced that a growing number of economists believed that the recession may have ended.
The financial crisis has been linked to reckless and unsustainable lending practices compounded by government intervention and the growing trend of securitization of real estate mortgages in the United States. The US mortgage-backed securities, which had risks that were hard to assess, were marketed around the world. A more broad based credit boom fed a global speculative bubble in real estate and equities, which served to reinforce the risky lending practices. The precarious financial situation was made more difficult by a sharp increase in oil and food prices. The emergence of Sub-prime loan losses in 2007 began the crisis and exposed other risky loans and over-inflated asset prices. With loan losses mounting and the fall of Lehman Brothers on September 15, 2008, a major panic broke out on the inter-bank loan market. As share and housing prices declined, many large and well established investment and commercial banks in the United States and Europe suffered huge losses and even faced bankruptcy, resulting in massive public financial assistance.

A global depression has resulted in a sharp drop in international trade, rising unemployment and slumping commodity prices. In December 2008, the National Bureau of Economic Research (NBER) declared that the United States had been in recession since December 2007. Several economists have predicted that recovery may not appear until 2011 and that the recession will be the worst since the Great Depression of the 1930s. The conditions leading up to the crisis, characterised by an exorbitant rise in asset prices and associated boom in economic demand, are considered a result of the extended period of easily available credit, inadequate regulation and oversight, or increasing inequality.

The depression has renewed interest in Keynesian economic ideas on how to combat recessionary conditions. Fiscal and monetary policies have been significantly eased to stem the depresion and financial risks. Economists advise that the stimulus should be withdrawn as soon as the economies recover enough to “chart a path to sustainable growth”.

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