Reasons That are Responsible to the Economic Crisis We are Facing Today

Over the last 2 years or so, the world’s financial system has gone through its greatest crisis since the Great Depression. Severe financial problems have emerged simultaneously in many different countries, and the economic impacts are being felt throughout the world as a result of the increased interconnectedness of the global economy.1
Most political responses to the economic and financial crisis have been taken by individual nations. Some coordination took place at the European level, but the need to cooperate at the global level has led leaders to activate the G-20 major economies entity. A first summit dedicated to the crisis took place, at the Heads of state level in November 2008 (2008 G-20 Washington summit).
At national levels, some localized social unrests and government premature changes attributed to the economic crisis have been noted. Also some Medias and agencies have expressed fears that it would lead to general social and political instability.
Business Week in March 2009 stated that global political instability is rising fast due to the global financial crisis and is creating new challenges that need managing.2 The Associated Press reported in March 2009 that: United States "Director of National Intelligence Dennis Blair has said the economic weakness could lead to political instability in many developing nations." Even some developed countries are seeing political instability.3 Many, if not most, of the big countries out there have room to accommodate economic downturns without having large-scale political instability if we're in a recession of normal length. If you're in a much longer-run downturn, then all bets are off.4…