The Effect of the World Financial Crisis on an Economy - modernghana.com/feature article
Shared by Phil
So many stores and business closed and in that case the unemployment rate increases is not a surprise. That is because there less places for people the hold the job. This is no threat but America has a reputation of blaming other nations or people instead of themselves. That is because America is scared to take the consequences. That reason is because they think they are the top dog and a little mistake will bring them down. I say this because America owe so much dept to other people but don't pay up but if some other nation owes us the money they will HAVE to pay almost right away.
The Financial crisis in the United States market and the world meltdown is known as Global recession, it has shadowed the world economy with a varying degree of recessional impact. The effect of the crisis is evidenced from the very fact of falling Stock market, lack of jobs availability and companies following downsizing in the existing available staff and cutting down of the perks and salary corrections. Globally the financial sector sacking the existing base of employees in high numbers in US the major example being CITI Group.