Global Economic CrisisIntroductionSince 2008 , the world has been facing the worst sparing crisis since the Great Depression of 1930s . Although the magnitude of the current sparing crisis has not reached the extent the Great Depression , they share a number of similarities in causes and effects . The current world frugal crisis has led to liquidity shortf alone in different countries and immense job losses . It has seen large financial institutions close sess while the other sectors of the miserliness are struggling to check afloat . The crisis has also led to erosion of consumer wealth bell trillions of dollars . Like the Great Depression , the current economic crisis started in one sector and later affected the whole economy . A striking similarity between the two crises reveals that they entirely started with a bubble and later liquidity shortfall . The sign phase witnessed a bubble in financial and lodgment sector and financial problems in those sector later afford to other areas .

It is worth to note that the current crisis has not been contributed by a single factor but rather multitudes of factors pass on conspired to aggravate the crisis Market and regulation based factors can be held accountable for the current crises although other personal factors also contributed to the crisis in different ways . In to save the economy which was eminently collapsing , the government was forced to take fast measures to miti gate the dock . In United States , the go! vernment responded by committing 700 billion packet and regulations to stabilize the market However...If you want to get a liberal essay, order it on our website: OrderCustomPaper.com

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