<Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> Many factors directly and indirectly caused the Great Recession (which started in 2007 with the US subprime mortgage crisis), with experts and economists placing different weights on particular causes . </P> <P> Major causes of the initial subprime mortgage crisis and following recession include: International trade imbalances and lax lending standards contributing to high levels of developed country household debt and real - estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non-depository financial institutions . Once the recession began, various responses were attempted with different degrees of success . These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses . </P> <P> One narrative describing the causes of the crisis begins with the significant increase in savings available for investment during the 2000--2007 period when the global pool of fixed - income securities increased from approximately $36 trillion in 2000 to $80 trillion by 2007 . This "Giant Pool of Money" increased as savings from high - growth developing nations entered global capital markets . Investors searching for higher yields than those offered by U.S. Treasury bonds sought alternatives globally . </P>

What was one major cause of the recession in the united states in the 1970s
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