www.peoplestandup.ca by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca The credit crunch The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead. The sub-prime crisis and housing bubble The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch. Although the housing collapse in the United States is commonly referred to as the trigger for the global financial …
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Money Mantra: In this show, YC Nanda, former chairman of Nabard; Arun Duggal, chairman of Shriram Capital and Paranjoy Guha Thakurta, an economic analyst, share their views on financial inclusion efforts taken by banks across the country.
In this Brand New DVD presentation Don and David mcalvany analyze the financial market chaos of 2008 and its immediate impact on the real world economy of 2009 and beyond. After viewing this exclusive presentation you will better understand how to solidify your future and protect your assets. It’s your choice. Order your FREE copy today at www.mcalvany.com/request.php or call 800 525 9556
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In this Brand New DVD presentation Don and David McAlvany analyze the financial market chaos of 2008 and its immediate impact on the real world economy of 2009 and beyond. After viewing this exclusive presentation you will better understand how to solidify your future and protect your assets. It’s your choice. Order your FREE copy today at www.mcalvany.com/request.php or call 800 525 9556
