global financial crisis

Thousands of layoffs announced Monday illustrate the pain caused by the credit crisis here in the United States. But as the Financial Times reports, a credit crisis hits less prosperous nations much harder. From Malaysia to Morocco, the crisis, combined with high food prices, has forced some countries to revert to the old practice of [...]

With news that President-elect Barack Obama will not attend President George W. Bush’s summit on the global financial crisis, onlookers might be forgiven for wondering, “What’s the point?”
Bush is leaving office in two months, and the responsibility for formulating a policy to manage the world’s economic slowdown will fall to a new administration with a [...]

The stock-market crashes around the world are not symptoms of the disease but the cure. The “disease” is the excessive debt and leverage in the global financial system — especially in the United States, Britain, Spain and Australia. The “cure” is the reduction of the level of debt.

Calculated Risk offers some nostalgic memories as the Dow Jones Industrials dipped below 10,000 today, for the first time in five years.
March 29, 1999.