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artagorapolis, business, Economic bubble, etnia avatar, eu, euro, Financial crisis, gli speculari, Japan, prosumerzen, prosumerzen open tv, Real estate, Scandinavia, spiriterial, uandshop, United States, westphalia xxi, world economy
Financial crises are nothing new. They are typically preceded by credit
booms and asset price bubbles. Also, many of them are the result of bubbles
in real estate markets. From this point of view, the current financial turmoil,
and the period preceding it, shares many of the characteristics of the previous bubbles in history. In recent years, there have been crises in emerging
or middle-income countries of the world as well. The severe crises in Japan
and in Scandinavia in 1990s are other examples. However, they had not so
much impact on the world economy. Unlike past crises, the current crisis
has affected almost every country and region of the world. It originated in
the sub-prime mortgage market in the United States (US) and then spread
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