Global Economic CrisisIntroductionSince 2008 , the world has been facing the worst frugal crisis since the Great Depression of 1930s . Although the magnitude of the current stinting crisis has not reached the extent the Great Depression , they share a number of similarities in causes and effects . The current world economic crisis has led to liquidity shortf alone in different countries and spacious job losses . It has seen large financial institutions close take up while the other sectors of the miserliness are struggling to hitch afloat . The crisis has also led to erosion of consumer wealth price 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 all in all started with a bubble and later liquidity shortfall . The sign phase witnessed a bubble in financial and lodging sector and financial problems in those sector later stretch along 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 have 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 mitigate the situation . In United States , the government responded by committing 700 billion pile and regulations to stabilize the market However...If you want to get a affluent essay, order it on our website: OrderCustomPaper.com

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