The economic crisis is becoming a huge dimension, as always it affects the most vulnerable people. It is trigger was the subprime mortgages crisis. The development of events has shown that this situation has been due to the large amount of toxic financial packs with no real value, including those of prime mortgages. The contamination has spread throughout the world in a global market, where the system is less regulated. The financial crisis has moved into the real economy, which has some difficulties to get credit. As a result what first appeared to be liquidity problems has shown to be a problem of solvency.
Some economists had warned about the dangers of expanding property markets and the financial system and the speculative bubbles that were created in both markets. Also, it has studied the future of the capitalism.
Data from recent years has shown very high growth rates that did not reflect the reality, because it was a favoured growth of inequalities and annihilation the environment.
In Europe, the crisis is damaging the welfare state. Some countries, like Spain or Leetonia have increasing unemployment rates. This will be a bad situation for some social collectives. In Spain the unemployment is nearly 20 percent among the active population. There are nearly one hundred thousand families that all the members are unemployed and they are living with a low wage of the government.
In Spain, a lot of people bought houses to earn some money selling them in the future. The housing market was increasing its value and it was a good investment. But at the end most people had to rent the house or sell it for less money than they bought it.
The financial system has benefited over the years based on unorthodox practices that has predominated in enrichment quick and easy. But now, it is changing. New growth must be based on sustainable development, where the environment plays an important role, where energy and food must be well managed. We have to think of poverty in the country where we live, where social exclusion still exists, and also, we have to think of the poverty in the Third World, where many of them are hungry and sick.
Fortunately, in my case, the crisis has not affected me much, although I have many friends around me with several problems since they have lost their jobs or cannot sell the house that they bought.
In conclusion, this crisis cannot be resolved only with measures of economic policy, it is necessary to consider other ways to grow and consume. People have to take the initiative in their daily life with measures like recycling, managing the energy, and investing carefully. Then, maybe, we will be able to live in a better world without having to hear the word crisis in a lot of years.
Some economists had warned about the dangers of expanding property markets and the financial system and the speculative bubbles that were created in both markets. Also, it has studied the future of the capitalism.
Data from recent years has shown very high growth rates that did not reflect the reality, because it was a favoured growth of inequalities and annihilation the environment.
In Europe, the crisis is damaging the welfare state. Some countries, like Spain or Leetonia have increasing unemployment rates. This will be a bad situation for some social collectives. In Spain the unemployment is nearly 20 percent among the active population. There are nearly one hundred thousand families that all the members are unemployed and they are living with a low wage of the government.
In Spain, a lot of people bought houses to earn some money selling them in the future. The housing market was increasing its value and it was a good investment. But at the end most people had to rent the house or sell it for less money than they bought it.
The financial system has benefited over the years based on unorthodox practices that has predominated in enrichment quick and easy. But now, it is changing. New growth must be based on sustainable development, where the environment plays an important role, where energy and food must be well managed. We have to think of poverty in the country where we live, where social exclusion still exists, and also, we have to think of the poverty in the Third World, where many of them are hungry and sick.
Fortunately, in my case, the crisis has not affected me much, although I have many friends around me with several problems since they have lost their jobs or cannot sell the house that they bought.
In conclusion, this crisis cannot be resolved only with measures of economic policy, it is necessary to consider other ways to grow and consume. People have to take the initiative in their daily life with measures like recycling, managing the energy, and investing carefully. Then, maybe, we will be able to live in a better world without having to hear the word crisis in a lot of years.
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