Writing Resources
First part of the chapter is about the production growth rates in world economy some progressive economies and other countries since 2000 From 2000 to 2007 the world economy had a permanent dissemination Annual average world output growth was 3 2 with about 30 richest group of countries in the world with progressive economy and other about 150 countries with start up and evolving economy In 2007 signs of the expansions ending started to appear U S housing prices started declining since 2000 because they had doubled Optimists believed that lowering housing prices might take them to lowering housing construction and to lower consumers spendings the Federal Reserve Board U S central bank could lower interest rates to induce demand and escape recession Pessimists believed that interest rates being decreased might not be enough to induce demand and that the United States will go through a short recession Housing prices continued declining it became clear that given mortgage loans at the time of the expansion were of low quality
