2008economic
The 2008 economic crisis, also known as the global financial crisis, was a severe worldwide economic crisis that began in 2008. It is considered by many economists to be the most serious financial crisis since the Great Depression of the 1930s. The crisis had its roots in the United States housing market, where a bubble in home prices began to deflate in 2006. This led to a sharp increase in mortgage defaults and foreclosures.
As the housing market deteriorated, the interconnectedness of the global financial system became apparent. Financial institutions
The crisis quickly spread beyond the financial sector, impacting the broader economy. Businesses faced reduced demand