why is it termed so?
It was a period that marked the general decline observed in national economies globally between 2007-2009. The International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. Hence, the Great Recession.
Great Recession
The Great Recession was a period of marked general decline (recession) observed in national economies globally that occurred between 2007–2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression.

windows server 2012 r2 datacenter vs windows server 2012 r2 standard UNANSWERABLE what is this windows server 2012? It is the fifth version of the Windows Server operating system by Microsoft, as part of the Windows NT family of operating systems. how was it received among the users? Many business users are sticking with what the have due to lack of exchange. are there any updates in its task manager? In the new version the tabs are hidden by default, showing applications only. when was it launched? September 4, 2012 who owns the company which developed it? Bill Gates and Paul Allen how is their logo designed? The Logo has 4 color squares each representing Windows, Office, Xbox and Bing. were there any lay off of the employees from the company? Yes. what is the reason behind it? The Great Recession
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Great Recession [SEP] Introduction
This 2007–2008 phase was called the subprime mortgage crisis. The combination of banks unable to provide funds to businesses, and homeowners paying down debt rather than borrowing and spending, resulted in the Great Recession that began in the U.S. officially in December 2007 and lasted until June 2009, thus extending over 19 months. As with most other recessions, it appears that no known formal theoretical or empirical model was able to accurately predict the advance of this recession, except for minor signals in the sudden rise of forecasted probabilities, which were still well under 50%. The recession was not felt equally around the world; whereas most of the world's developed economies, particularly in North America, South America and Europe, fell into a severe, sustained recession, many more recently developed economies suffered far less impact, particularly China, India and Indonesia, whose economies grew substantially during this period – similarly, the highly developed country of Australia was unaffected, having experienced uninterrupted growth since the early 1990s.