The Year that Shook the World

Major changes before Moshiach is revealed:
http://news.bbc.co.uk/2/hi/business/8235141.stm

8-03-09

On 15 September 2008 (Mon. 15 Elul), one of the world's oldest and most respected investment banks, Lehman Brothers, collapsed.

It led to a global financial panic, that has seriously damaged the global
economy.

The events that unfolded, over just a few days last September, spread panic among investors, bankers, and the wider world, over the stability of the financial system.

When the dust had settled, stock markets were down 40%, major banks in the US and UK were surviving only on government support; and the world had entered a sharp recession, the deepest in 60 years, with rising unemployment, and a collapse of house prices.

Now, as the leaders of the world's major economies prepare to gather at the end of the month at the G20 summit, it is still not clear, whether the world economy is on the road to recovery. - and debate still rages, over the fundamental causes of the crisis.
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It is clear, that two countries have been badly hit by the crisis - the US and the UK.

These countries face years, of damage to their public spending plans, as the rescue and the economic collapse, has led to huge government deficits, in both countries.