The 2008 global financial crisis

  This is a global financial crisis caused by the bursting of the real estate bubble in the United States. It was not only the largest financial crisis after the Great Depression in 1929, but it also affected most countries in the world. In the run-up to the outbreak of the crisis, the house price in the United States rapidly increased to the highest value of the house price index since 2000 in July 2006. Still, the demand saturation, a price level is not sustainable, consumption growth is no longer sustainable, and the house price bubble bursts. Source: S&P Dow Jones Indices LLC   The investment value of many financial institutions and banks is based on residential mortgage loans. The value of the mortgage depreciates due to the sharp decline in the housing price. Financial institutions and banks find it difficult to discount the mortgage, and their operation ability is reduced. This leads to a lack of confidence in banks and financial institutions, and investors no longer choose