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GLOBAL FINANCIAL CRISIS
Transcript of GLOBAL FINANCIAL CRISIS
Subprime Mortgage Loans
Expansionary Monetary Policy
"The Fed dropped its short term interest rates from 5.25% to 0% by the end of 2008" (Llyod, 2011)
Rate of return
Spending > Savings
Injection > leakage
Private Investment Spending
The Economic Stimulus Act of 2008
"...the federal fiscal deficit" increases from 36% of GDP to 62% of GDP at the end of 2010 (Ciro, 2012, p.104)
Government expenditure > tax revenue
"The U.S. economy is experiencing a slow recovery even though it shows significant economic growth."
Beattie, A. (2010, June 10). US Fed chief sees signs of sustainable growth. Financial Times. Retrieved from http://search.proquest.com.ezp01.library.qut.edu.au/docview/366382718#
Byun, K.J. & Frey, C. (2012). The U. S. Economy in 2020: recovery in uncertain times. Monthly Labor Review. p. 8. Retrieved from http://www.bls.gov/opub/mlr/2012/01/art2full.pdf
Ciro, T. (2012). The global financial crisis: triggers, responses and aftermath.[PDF version]. Retrieved from http://reader.eblib.com.au.ezp01.library.qut.edu.au/(S(c1bjzh1uru1ipqlvblmnpvjt))/Reader.aspx?p=834052&o=96&u=Mm59TWzhnY8CRt4XrAdGBA%3%3d&t=1376920013&h=BAFEE4BF63C44D30CC727EB9584E08B95F74FF6C&s=9580710&ut=245&pg=1&r=img&c=-1&pat=n
Dwyer, G.P. & Lothian, J.R. (2011). The Financial Crisis and Recovery : Why so Slow?. Federal Reserve Bank of Atlanta. Retrieved from http://www.frbatlanta.org/cenfis/pubscf/nftv_1110.cfm
Edey, M. (2009). The global financial crisis and its effects. Economic papers. 28(3), 186-195. Retrieved from http://onlinelibrary.wiley.com.ezp01.library.qut.edu.au/doi/10.1111/j.1759-3441.2009.00032.x/pdf
Foong, K. (September 2007). The Subprime Mortgage Crisis. Multi-Housing News. 42(9). Retrieved from http://search.proquest.com.ezp01.library.qut.edu.au/docview/236948586/fulltextPDF/13FFC3746EBCFBF9CDD/2?accountid=13380#
Fraser, I., Gionea, J, and Fraser, S.(2011). Economics for business. (4th ed.) North Ryde, NSW: McGraw – Hill.
Lloyd, B. T. (2011). The Financial Crisis and Federal Reserve Policy. [PDF version] Retrieved from http://www.palgraveconnect.com.ezp01.library.qut.edu.au/pc/doifinder/10.1057/9780230118072
Mosely, F. (2009). The U.S economic crisis causes and solutions. International Socialist Review. (64).Retrieved from http://isreview.org/issue/64/us-economic-crisis
Ovanhouser, R.T. (Ed.). (2009). Financial Crisis in America. New York: Nova Science Publishers, Inc.
Payne, R.J. (2012). Global Issues. (4th ed.) USA: Pearson Higher Ed. Retrieved from http://www.pearsonhighered.com/assets/hip/us/hip_us_pearsonhighered/samplechapter/0205231527.pdf
Stewart, H. (2010, March 17). Financial: Federal Reserve pledges to keep interest rates low. The Guardian. Retrieved from http://search.proquest.com.ezp01.library.qut.edu.au/docview/246893997#
US Financial Crisis Began with Subprime Mortgages. (2008, October 9). US Financial Crisis Began with Subprime Mortgages. Voice of America News. Retrieved from http://search.proquest.com.ezp01.library.qut.edu.au/docview/190471830?accountid=13380#
Subprime Mortgage Owners
Prime Mortgage Owners