The economic and financial crisis

In the end of 2008, bad news concerning job losses, recession, insolvency… were every day broadcasted by the media. People had to think about changing their lifestyles, because it was one of the biggest economic crises of the last 100 years.
The economic crisis has its origins in the United States of America banking institutions. As it happened in 1929, a monumental Stock Exchange crash had been caused. In fact, during the years preceding the crisis, American and world financial institutes really made banker’s draft easier for people and institutions by lending money to people who were incapable of refunding their debts. For example, these people bought houses that they couldn’t afford. Some banks were strongly touched by a huge amount of loans that weren’t reimbursed and caused them financial difficulties.
Nevertheless, why is it worldwide? What are the consequences in France and in the world? How does the government tried to face this crisis? What will be the situation in 2011, when I want to find a job?

Actually, with the market globalization, almost all countries keep some international relations. The United States represent a huge exportation market with several countries in the world. When the US has less money, they limit their spending which result in less sales and factories idle. Indeed, some products are manufactured in China, others are exported to Germany, in Europe or elsewhere in others regions in the world. Thus, when something goes wrong somewhere, especially in the US which is economically powerful, a lot of countries are directly affected. Moreover, I really think that the media and Internet participated in the rapid dissemination of information in the world. By dint of hearing that things are getting worse everywhere, people tighten their belt and buy less to anticipate the turbulence and the possible loss of their jobs. By buying less, they spend less which leaves little opportunities for