It is now fairly established that the recent crisis in US sub-prime housing market is the primary reason behind the global economic melt-down. In order to fully understand the dynamics and depth of current global recession, It is very important to know what led us to this crisis. I have found the illustration below very thought-provoking and useful. It helped me explain the reasons effectively.
The visual guide to the financial crisis:
We all know, Alan Greenspan and Bush said they are sorry for the Global economic crisis. But do you know what Greenspan said in 2003?
“The notion of bubble bursting and the whole price level coming down seems to me as far as a national nationwide phenomenon, is really quite unlikely,” By Alan Greenspan, Federal Reserve Chairman, in 2003.
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- 30-Year Fixed Mortgage Rates Outlook For 2009
- How Americans are Dealing with Credit Crisis?
- Posts about Mortgage Rate Outlook as of April 3, 2009
- Regulators Close Four More Banks as Credit Crisis Deepens
- Japan’s Economy heading towards deflation- Retail Sales Falls up to 5.8%
- Sleeping over the Crisis
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Is there any information about this subject in other languages?
A fantastic depiction of the overall debacle. Thanks for this post…
according to me the global crisis is due to the money and weapons hold by the terorists from small villages to town