Fight of global recession

         Economic recessions take place from time to time under the modern economic concept.History shows that the United States suffered its first recession  back un the years between 1797 and 1800.It was called the panic of 1797 ; this is termed as the travel of European recession to the America dur to the deflating effects of the Bank of England which disrupted commercial real estate markets in the US.
         Recession is generally identified as the reduction of a country's GDP for at least two quarters. In another way, a 1.5 per cent rise in unemployment within 12 months is defined as a recessionary stage.

         The collapse of the dot -com bubbke,the September 11 th attacks, and accounting scandals creates a relatively mind recession in the US economy in early 2000s and it continues six months up to 2001 . After six years of bubble dot com, the US economy again faces recession in December 2007 and it becomes unbearable in September,2008. The collapse of the housing marker led to bank collapses in the US and Europe, causing the amount of available credit to be sharply curtailed, resulting in a massive  liquidity crises.The prevailing recession leads private consumption to fall for the first time in nearly 20 years.