The Reasons Behind Global Economic Crisis

by R. MAK. on December 2, 2008

in Macro-Economics

 
 

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.

Reason Behind Global Economic Crisis

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{ 3 comments… read them below or add one }

1 work and travel 12.25.08 at 12:25 am

Is there any information about this subject in other languages?

2 Jaguar 03.04.09 at 8:28 am

A fantastic depiction of the overall debacle. Thanks for this post…

3 bala 04.08.09 at 10:51 am

according to me the global crisis is due to the money and weapons hold by the terorists from small villages to town

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