By PINCHAS LANDAU
The original source of the global economic crisis was the housing bust in the US. It is now over three years since this began, since most of the key parameters of the residential housing sector peaked between late 2005 and the second quarter of 2006. The effects of that reversal began to be felt in the financial markets in early 2007 and with full force from July of that year. The rest, as they say, is history - although it is worth remembering that as late as early 2008, there were still many people who were convinced, and tried to convince others, that the "subprime crisis" was a problem limited to some borrowers, in some areas, and only in the US.
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Ruin-Nation
11 months ago
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