When a borrower falls behind on monthly mortgage payments, they run the risk of defaulting on their home loan. Once a buyer defaults on their mortgage, the financial institution holding the mortgage on the home may begin a process known as foreclosure. Foreclosure is the financial institution's right to protect their interest should a borrower not be able to keep up with the required payments on their home.

The Federal Deposit Insurance Corporation is a United States government corporation created in 1933. It provides deposit insurance which guarantees the safety of checking and savings deposits in member banks, currently up to $100,000 per depositor. The vast number of bank failures in the Great Depression spurred the United States Congress to create an institution to guarantee deposits held by commercial banks, inspired by the Commonwealth of Massachusetts and its Depositors Insurance Fund (DIF).

The list includes banks which have failed since October 1, 2000.

Being recession-proof means being prepared in case you lose your job. What if, no matter how amazing an employee you are, you get laid-off? You must have a financial backup plan.

Have at least three months of expenses saved in case something happens. The optimal amount of savings is six months but I know many find that unrealistic. If you can do six months, however, all the better.

You need to calculate ALL of your expenses and start saving immediately. Here is a list of items you must not forget:

1. Mortgage or rent
2. Gas and electric

Inflation is an increase in the quantity of money and credit. Its chief consequence is soaring prices. Therefore inflation—if we misuse the term to mean the rising prices themselves—is caused solely by printing more money. For this the government’s monetary policies are entirely responsible.

The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output for a given country's economy. GDP is defined as the total market value of all final goods and services produced within the country in a given period of time (usually a calendar year). It is also considered the sum of a value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, and it is given a money value.

What Was The Great Depression?

The Great Depression of 1929 was a worldwide economic depression that lasted approximately 10 years. On October 24, 1929, “Black Thursday” when 12.9 million shares of stock were sold in one day, triple the normal amount prices fell 15 - 20%, causing a stock market crash.