| From Aboobarza: The world economy is in the grip of a financial crisis. The crisis originated in the United States (US) with plunging house prices, stock price declines, and a severe credit crunch (falling credit availability), and then spread across Europe and major Asian countries.
This financial crisis is far more serious than any experienced over the last four decades. International Monetary Fund (IMF) considers this financial crisis as more serious than the great depression of the 1930s..... Full Article: Source
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