In 2007, the U.S. economy experienced one of the greatest downturns since the Depression era, and furthered by the collapse on a global scale. The bubble burst on the housing market and the house of cards called the mortgage industry tumbled down, no longer able to sustain charade of success. This caused the collapse of some of the largest financial institutions, once thought to be immortal. This rippled into a massive tightening of the belts of many companies, as they found themselves without lines of credit, lack of business, and the daisy-chain collapse of their support networks. Who paid the final price? Companies cut costs through pay cuts, layoffs, and closings. While this may have saved jobs for many, the feeling of loss and vulnerability permeated corporate American in all ranks.
The Great Recession was a rude awakening for those living the American Dream at the turn of the century. The 2000’s were the new 80’s, but for all. People lived off credit, borrowed time with Home Equity Lines of Credit and lived through every cent they made. As people felt corporate American tightening its belt, that belt became a noose around America’s neck. In a 2009 “ABC News/Washington Post poll, 61 percent of Americans said the economy is causing stress in their lives; a third said the stress is "serious." And those who said they've been hurt "a great deal" by the recession reported stress levels more than double those who said they were just "somewhat affected" by the recession.” (ABC World News with Diane Sawyer, 2009)
People’s stress level directly correlated to the responses of businesses to the Great Recession. This was felt either through direct job loss or by knowing someone affected. People who otherwise felt comfortable and lived within their means were now feeling fearful of the future. Maslow’s hierarchy of needs was flipped around as people tumbled down