Since the summer of 2008 the world has experienced the greatest destruction of wealth – paper losses measured in the trillions of dollars – in its history. No industry in the world has been left untouched. The financial powerhouses of Bear Stearns and Lehman Brothers have gone bankrupt and mortgage giants Fannie Mae and Freddie Mac had to be bailed out. Attempts by the US government to save industries led to an increased budget deficit, making some experts predict that the global power epicenter might shift away from the US before the crisis ends. On the other hand, it has become clear that Asian countries need to restructure their domestic economies to encourage consumption. They cannot continue to rely on credit-fueled American consumption to promote growth. Consumer confidence remains low with fears of a double-dip or an anemic recovery being voiced daily. Some poor countries, insulated from foreign finance, suffered from reductions in tourism, remittances and foreign aid. What began as a local problem of excess credit in the United States is likely has affected every member of the global community. All crises in the twentieth century have had world-wide consequences but the crisis of 2008 will go down in history as the first full-blown global crisis.

The UK Will Survive, But Europe Won't

Unless citizen and leaders are willing to enact reforms and live with compromises
Sławomir Sierakowski
June 27, 2016

Brexit Is a Rejection of Globalization

Political leaders and citizens must unite to repair, not trash troubled systems
Larry Elliott
June 27, 2016

“Brexit” Could Send Shock Waves Across US and Global Economy

Many US firms rely on the UK as base for doing business in the rest of Europe
Ylan Q. Mui
June 22, 2016

The Financial Plan for “Brexit”? Cross Your Fingers

The uncertainty of Brexit unnerves global markets
Peter S. Goodman
June 17, 2016

American Capitalism’s Great Crisis

Financial institutions no longer provide clear, measurable economic benefit
Rana Foroohar
June 8, 2016

Cheap Money Helped Inflate Energy Balloon

Oil output increased by more than 40 percent from 2008 to 2014
Rani Molla and Lisa Abramowicz
June 7, 2016

6 X-Factor Risks Keeping Fund Managers, Investors Up at Night

Brexit, defaults in China and US election uncertainty are top risks troubling global fund managers
Marcus Padley
May 27, 2016