macro_essay

macro_essay - Shayra Medal Prof Sabet Macroeconomics Final...

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Shayra Medal Prof Sabet Macroeconomics Final essay. Briefly discuss the economic and financial crisis of 2008. Give me three (3) reasons that caused the financial meltdown. Leave a space between each reason. Financial Crisis of 2008 The financial crisis of 2008 is also known as the late-2000’s recession or also the Great Recession. It typically began in 2007 but took a major decline in 2008. This huge crisis affected the world, one more than others. One biggest issue was the high prices in oil and food. It rose very high as the cause of damage economically. Which triggered stagflation and reversing globalization. In January of 2008 oil prices rose so high by $100 a barrel never had this ever happened. And then by July of 2008 it rose even more by $47. This affected all parts of the United States. This incredibly high priced product dropped its demand and therefore dropping the prices of oil down to $35. The sprint of high prices could have been a result of the unstable prices of oil during recent decades. Furthermore, another cause was the theory of credit creation. Which is the credit
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macro_essay - Shayra Medal Prof Sabet Macroeconomics Final...

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