This Recession Started Long Before the Pandemic

In September last year the REPO market blew up.

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Image Credit: Getty Images

The financial system in the US ran out of cash.

Something had gone terribly wrong. Fortune Magazine at the time wrote “the grease gun that keeps financial markets lubricated — by banks and companies temporarily trading bonds for cash and then redeeming them, usually overnight…” had stopped working. The Federal Reserve came in silently and saved the day like a Navy Seal, by injecting a lazy $75 Billion.

Why Does the Start Date of the Recession Matter to You?

That’s the big question. You’re probably not a finance geek who gets excited by all these complicated terms and different types of markets.

Written by

Aussie Blogger with 100M+ views — Writer for CNBC & Business Insider. Inspiring the world through Personal Development and Entrepreneurship www.timdenning.com

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