the Great Recession — The severe global economic downturn that began in 2008, triggered by the collapse of the U.S. housing market and financial system.
Part of speech: NOUN
Definition: The severe global economic downturn that began in 2008, triggered by the collapse of the U.S. housing market and financial system.
Pronunciation (IPA): /ðə ɡreɪt rɪˈsɛʃən/
Example Sentences
- During the Great Recession, my uncle lost his job and started selling homemade kimchi to survive.
- Many governments introduced strict financial regulations after the Great Recession to prevent another crisis.
- The Great Recession taught economists that even 'too big to fail' banks can collapse.
the Great Recession
NOUN[/ðə ɡreɪt rɪˈsɛʃən/]
The severe global economic downturn that began in 2008, triggered by the collapse of the U.S. housing market and financial system.
During the Great Recession, families lined up outside banks worrying about their savings.
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🎤Pronunciation
🌳Etymology
Origin
The term combines Old English 'great' (meaning of considerable size or importance) with 'recession,' derived from Latin 'recedere' (to retreat or go back). The phrase describes a severe economic contraction where economic activity withdraws or retreats, deliberately distinguished from the 1930s Great Depression to denote the 2008-2009 financial crisis.
Breakdown
re- (back) + cedere (to go/yield) → recession (economic retreat). Great (Old English, meaning large or significant in scope) + recession, forming a compound noun describing a major economic downturn.
🎵Rhyme
🔗Collocations
📝Examples
“During the Great Recession, my uncle lost his job and started selling homemade kimchi to survive.”
“Many governments introduced strict financial regulations after the Great Recession to prevent another crisis.”
“The Great Recession taught economists that even 'too big to fail' banks can collapse.”
“Some people joke that during the Great Recession, even piggy banks filed for bankruptcy.”
📚Related Words
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