Thursday, January 01, 2009
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Is This Another Great Depression Era?


This article analyzes the $700 billion bail out plan by George Bush.


The credit crunch has hit millions of people around the globe. The crisis is getting worse day by day as world leaders are trying to do everything they can to solve this catastrophic problem. In the US President Bush took drastic measure to tackle the issue by bailing out $700 billions to get economy back on track, yet as each day passes the problem seems far from over.

Around the world investors are scared of investing their money in stock markets as shares plunge in Europe, America and Asian. Some countries like Russia and Iceland had to suspend trading in stock market for a few days in order to find a way out of the turmoil. According to some analysts it is the beginning of financial crisis as companies cut jobs in most countries around the world. In particular in the UK and US millions of jobs have been cut in most business sectors. In some parts of the world people are struggling to find their daily food. Businesses are down around the glob. Food prices are raising as Christmas and New Year arrives it has been predicted in the UK that unemployment would reach to two million by December.

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