Lessons learned from the 2008 financial crisis that can help us now

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WASHINGTON CROSSING, Penn. – The devastating economic impact of the COVID-19 pandemic has drawn comparisons with a previous U.S. economic calamity – the Great Recession of 2008. That crisis, similar to the current one, included high unemployment, a plunging stock market and government stimulus packages. While the population wonders how and when the U.S. economy will recover, there are some lessons learned from 2008 that can be applied now, Steve Kruman, a financial planner and investment adviser at Bryce Wealth Management, said. “There was a wide variety of strategies in the last recession, from infrastructure investments to re-regulating financial institutions and others,” Kruman said. “Some worked, and some didn’t. Seeing where we went wrong may help us get this right.
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