How many years is the financial crisis, and what year is the financial crisis

Although there are many people who are doing all kinds of things about the end and improvement of the crisis, from a prudent point of view, it is absolutely impossible to predict that the crisis will end like this. It is no longer a financial event, because it is transmitted in a spiral: we can see that the sharp rise in US housing prices has caused the mortgage industry to suffer huge losses, and the Wall Street financial giants involved in the subprime derivatives business have been pulled down, and other financial institutions around the world that have financial transactions with them have not been spared.

The U.S. financial market has brought about a sharp decline in the capital markets of almost all major economies in the world, and people's assets have shrunk sharply, making their willingness to consume also decline sharply; The decline in consumption willingness has brought about the continuation of international and other international commodities, which in turn affects the performance of listed companies, resulting in the further shrinkage of people's assets and the further reduction of consumption willingness. The economies of Europe and the United States are inevitably facing recession, and countries with them as major exporters will eventually be involved. And that's it, from financial to physical, from the U.S. to the global.

Now the automotive and retail industries in the United States have begun to suffer. Iceland has gone bankrupt and there are fears that South Korea could be the first domino to fall in Asia. Some experts say that 2014 is expected to be warmer.

But such a big tsunami. No one is accurate**. The financial crisis caused a decline in China's exports in the fourth quarter.

Imports fell. Some small and medium-sized foreign trade enterprises have closed down or gone bankrupt. Foreign-funded enterprises have also withdrawn their investments.

All these have a direct impact on the difficulties of our country's job market. As far as I know. More than 7,000 enterprises have closed down in Guangdong.

In Hubei alone, more than 300,000 migrant workers have returned to their hometowns. The employment situation is expected to be even more severe next year. The economic downturn is an inevitable trend.

China has made it clear that next year's economic growth rate will be guaranteed at eight levels. This will be a very difficult and difficult task.

If the financial situation is good with the efforts of all walks of life, it will be 2 years, and at worst it will be 10 years.

What year was the financial crisis.

The financial crisis mainly refers to the global financial crisis triggered by the subprime mortgage crisis in the United States in 2008.

In August 2008, the stock prices of Fannie Mae and Freddie Mac, the two major mortgage giants in the United States, were in large losses. A series of sudden "changes" such as Lehman Brothers' filing for bankruptcy protection, Merrill Lynch's "commitment" to Bank of America, and AIG's emergency caused countries around the world to be shocked by the crisis. Wall Street's "misuse" of financial derivatives and underestimation of the subprime mortgage crisis have led to bitter consequences.

Extended Material: The Global Impact of the Financial Crisis

The U.S. subprime mortgage crisis was a storm caused by the bankruptcy of subprime mortgage lenders and the forced closure of investments, which led to a crisis of illiquidity in major global financial markets. The subprime mortgage crisis in the United States began to emerge in the spring of 2006 and swept through the world's major financial markets such as the United States, the European Union and Japan in August 2007.

The U.S. subprime mortgage market typically uses a combination of fixed and variable rate repayments, where homebuyers repay their loans at a fixed rate for the first few years after home purchase, and then at a variable rate thereafter. As the U.S. housing market cools, especially short-term interest rates rise, subprime mortgage repayment rates have also risen sharply, and the repayment burden on homebuyers has increased significantly. This situation directly led to the failure of borrowers of large batches of mortgage loans to repay their loans on time, which in turn led to the "subprime mortgage crisis".

As the world's only superpower, the outbreak of the subprime mortgage crisis in the United States instantly affected the world's financial centers and some neighboring countries, and its scope was far from being limited to the subprime mortgage crisis, but spread to the entire financial industry. Although the current account deficit in the United States has been declining, it still accounts for about 6% of GDP, and because the United States consumes far more products than it produces, Americans are still one of the largest demands** in the rest of the world, and the sharp decline in demand has greatly affected the economies of other regions, causing panic in countries around the world. (Information ** in Encyclopedia).

The U.S. financial crisis.