The global recession
The global financial crisis of 2008 and recession of the late 2000's - financial and economic crisis, as demonstrated in 2008 in the form of degradation of key economic indicators in most countries, and followed later that same year, the global recession.
The forerunner of the financial crisis of 2008 was the mortgage crisis in the U.S., the first signs of which appeared in 2006 in the form of reducing the number of sales of houses and in early 2007 escalated into a crisis subprime mortgage. Very soon the problem with lending felt and reliable borrowers. Gradually, from the mortgage crisis began to transform itself into a financial and affect not only the United States. By early 2008, the crisis has been global in nature and gradually began to appear in the general slowing of production, reducing demand and commodity prices, rising unemployment.
The emergence of the crisis associated with the following factors:
General economic cycles;
Overheated credit market and its effect appears before the mortgage crisis;
High prices of commodities (including oil);
Overheating stock market;