The 2007/08 financial crisis caused the biggest economic failure since the Great Depression. The crisis in the US subprime housing market spread throughout the globe and thus caused recessions in both the advanced and the developing economies. Factors that have led to the current recessions have been analysed and documented for future caution and indication. South Africa was affected by the crisis due to fall in exports. However, none of the SA financial institutions were liquidated due to the conservative regulations and financial policies. Prof. Calitz deeply explained what recession is, who was responsible and what lesson has been learnt.
Sunday, 29 January 2012
2007/08 RECESSION
Prof. Estian Calitz and the "RECESSION" talk.
The 2007/08 financial crisis caused the biggest economic failure since the Great Depression. The crisis in the US subprime housing market spread throughout the globe and thus caused recessions in both the advanced and the developing economies. Factors that have led to the current recessions have been analysed and documented for future caution and indication. South Africa was affected by the crisis due to fall in exports. However, none of the SA financial institutions were liquidated due to the conservative regulations and financial policies. Prof. Calitz deeply explained what recession is, who was responsible and what lesson has been learnt.
The 2007/08 financial crisis caused the biggest economic failure since the Great Depression. The crisis in the US subprime housing market spread throughout the globe and thus caused recessions in both the advanced and the developing economies. Factors that have led to the current recessions have been analysed and documented for future caution and indication. South Africa was affected by the crisis due to fall in exports. However, none of the SA financial institutions were liquidated due to the conservative regulations and financial policies. Prof. Calitz deeply explained what recession is, who was responsible and what lesson has been learnt.
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