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Sunday, November 9, 2008

The relationship between the financial crisis and jobs in the world

Must be the world financial crisis has agreat effect on having ajobs so, jobsnowadays will explain this problem to find away to help the jobs seekers to find ajobs in whole branches in the world.
This month’s near-breakdown of the global financial system is a classic example of a pattern that has occurred periodically since the eighteenth century, though not at this magnitude since the Great Depression – an unsustainable investment bubble followed by inevitable collapse and panicky selling of depreciating assets. The results are massive debt, banks (those which have survived) reluctant to lend, job availability plummeting, and 401K retirement plan balances shrinking.
Since much of the regulation designed during the Depression to moderate such declines was jettisoned during the Reagan years, the United States and other countries find themselves more overwhelmed than at any time since the thirties. The key questions are what can be done to keep the present crisis from reprising that dire decade, and how to build up better safeguards to protect us in the future.
Some global financial leaders are confident that the crisis can be contained. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), said last week that “the world is a very different place now from the ‘30s. We have learned from the mistakes of the past, and we have learned from each other’s experiences. We have tools to manage markets and economies now that we did not have then. We have the will to use them. I am confident that we can emerge from this crisis with our economies and our societies intact.” There seems to be general consensus that a much higher level of regulation of banks and other corporations is justified.
Strauss-Kahn went on to endorse a G-7 action plan which includes support of key financial institutions, guarantees for bank deposits, and restarting mortgage markets. He also announced that the IMF would “take the lead in drawing lessons from the crisis and in recommending actions to restore confidence and stability.”

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