Explain how the credit crisis adversely affected many other people beyond homeowners and mortgage companies. Do you believe the impact of the credit crisis is still being felt today?

Fin 100 week 4 discussion

The credit crisis of 2008 had far-reaching implications beyond homeowners & mortgage companies as it impacted virtually every aspect of the global economy. For example, financial institutions were forced to reduce lending due to increased risk levels which in turn led to a decrease in spending power thus negatively impacting both businesses & consumers alike. Additionally, whole sectors such as housing suffered substantial losses due to factors like defaults on loans thus further contributing towards economic downturn.

Moreover, even after decade since its peak unemployment rates remain high around world as does national debt hence why many argue that we are still feeling repercussions from this period today. Furthermore, recent events have only compounded situation with widespread disruption caused by pandemic plus other issues such as trade wars/tariff disputes adding yet another layer of uncertainty over time.

In conclusion, the credit crisis changed landscape significantly with its effects still being felt across numerous areas albeit some more than others. By understanding how past decisions continue shape our present one can better prepare for any potential challenges ahead thereby allowing us tackle them more effectively moving forward.