Economy

Economy

Stock market decline as a predictor for the recession

Chicago Stock Exchange

Moving out of the recession

Federal Reserve

2008 economic crisis in Oceania and Africa

Sydney Harbour Bridge

2008 economic crisis in North America

Foreclosure Trend - 2007 Number of U.S. household properties subject to foreclosure actions by quarter

The United States entered 2008 during a housing market correction, a subprime mortgage crisis and a declining dollar value. In February, 63,000 jobs were lost, a 5-year record. In September, 159,000 jobs were lost, bringing the monthly average to 84,000 per month from January to September of 2008.

2008 economic crisis in Europe

Birmingham Northern Rock bank run, 2007

Economic bubble

Foreclosed home

An economic bubble (sometimes referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, or a speculative mania) is “trade in high volumes at prices that are considerably at variance with intrinsic values”.

2008 economic crisis and trends

New York Stock Exchange

In 2008, a global economic crisis was suggested by several important indicators of economic downturn worldwide. These included high oil prices, which led to both high food prices (due to a dependence of food production on petroleum, as well as using food as an alternative to petroleum) and global inflation; a substantial credit crisis leading to the bankruptcy of large and well established investment banks as well as commercial banks in various nations around the world; increased unemployment; and the possibility of a global recession.

Nobel Prize in Economics, 2008 (Sveriges Riksbank Prize)

Sveriges Riksbanks

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 awarded Paul Krugman "for his analysis of trade patterns and location of economic activity".

 

Gambling


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