Unhappy 10th anniversary, Great Recession. You still hurt us

By Marilyn Geewax | NPR

Ten years ago this month, you may not have noticed the cracking and crumbling under you.

At the time, you may have had a job, a home and rising retirement savings. Sure, the housing market was hurting a lot, but stock prices were still holding up and Federal Reserve policymakers were offering reasons for calm, saying they expected strong consumer spending.

But the Fed was wrong: In December 2007, an economic earthquake already was convulsing the country. It marked the beginning of the Great Recession, which lasted 18 months, becoming the longest recession of the post-World War II period.

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