Lehman Brothers was one of the largest financial services firm which was bankrupt in September 2008. They were a very successful company until then and they provided private banking,equity shares,trading and many more.The fall of Lehman Brothers was the start of recession.
Recession is nothing but if there is a economic slowdown in the countries progress for two quarters then it is called so.The above figure explains the recession process in the best way and finally people are the sufferers.
TIPS TO AVOID RECESSION
1) Cutting Interest Rates :
If you cut the interest rates people will not save the money in banks instead at least they will get an idea to spend the money.
2) Tax Cuts :
Cut the tax on items in this way the government can induce people to spend more money on items.
3) Increase Government Expenditure :
The government should increase its expenditure and this can improve the economy to an extend.
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