The Crisis Of 2008 And Its Effects On The Economy

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The Crisis of 2008 has been the worst financial crisis since the devastating era of the Great Depression. The Crisis of 2008 just like the Great depression left millions of people unemployed, and homeless. After the crisis the causes were viewed like speculation, fragility of the system, and greed of the managers which adversely affected the market.
The effects of a financial crisis are truly devastating to the economy, and many people that live in the country of which it occurred. There are many effects of a financial crisis. For recent college graduates the odds of finding a job are highly doubtful, due to downsizing in companies, and a vast number of unemployed job seekers with much more experience. While some companies will be making
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You can still expect to see the financial crisis around the world often, but the really bad ones occur about once every decade. “In the early 20th century, most financial crisis was associated with banking panics.” When people would notice that the economy was down they would all try to run and take their money out of their banks, and with everyone trying to get their money the banks started to go bankrupt. With the banks starting to fail, it was the start of a domino effect. The stock market started the economic downturn when it crashed , people started to lose their jobs, homes, and families, and life savings. The Great Depression started on one of the most historic days in U.S. history Black Tuesday, but formally known as October 29, 1929. It all started when millions of investors started unloading shares, which on Wall Street is a big NO NO. Eventually the market crashed, causing complete chaos, and many investors began collecting their profits, or selling the rest of shares they had. With most of the shares on the market ending up absolutely worthless, the investors who bought stocks on margin went completely broke within the month of October. To buy stocks on margin means to borrow money that you didn’t have in the first place. In the fall of 1930 the bank panic began with a big number of investors demanded deposits in cash, which forced the banks to liquidate loans in order to cover for
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