The 2008 financial crisis was the largest and most severe financial event since the Great Depression and reshaped the world of finance and investment banking. The effects are still being felt today, yet many people do not actually understand the causes or what took place. Below is a brief summary
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A three-word answer that explains why the financial crisis of 2008 happened might be: too much debt. Too much debt happens when credit increases abnormally. Indeed, almost all financial crises are caused by an abnormal credit expansion.
The crisis in Venezuela is a political crisis, an economic crisis, and a humanitarian crisis. The most important effect has been for the bordering countries. Brazil and Colombia have seen large amounts of refugees coming through their borders. These are people who are crossing by foot to move to nearby towns or bordering towns.
· The Subprime mortgage fiasco explained. The Fall in house prices made the mortgage defaults more costly. If house prices are rising and someone defaults, the mortgage company can get most of the loan back by selling the house. But, now with falling house prices, they may end up with only a fraction of the house value.
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The straw that broke the camel’s back and precipitated the current crisis was the global financial meltdown of 2008. But in many ways, the economy of Greece was already insolvent before then. Despite the immediate future looking bleak, we believe the greek debt crisis can still be resolved.
Turkey recovered quickly from the global financial crisis, testimony to the many strengths Turkey has built up over the years.
· The economic crisis is the result of a man-made mistakes in the US and the natural rise of economies in the east. Fuel prices are never going to return to the levels experienced in the past, and the world must learn to adjust to this new reality. At the same time, the credit crisis – which was created in the US – can only be solved by the US.
The world is heading towards a crisis which. glass is great for the economy, excessive sand mining can destabilise the.
· The timelines of the financial crisis of 2007 and the financial crisis of 2008 reveal how these events came to be and how their early warning signals were missed by the government. January A bank owned for sale sign is posted in front of a foreclosed home May 7, 2009 in Antioch, California.