This is very relevant to human geography and links in well with development and globalisation - for example the globalisation of the economy means that countries are now so interdependent that when things like this happen it has a knock on effect and everyone suffers (well, except the bankers it seems with their ridiculous bonuses). Also see this story and this article for an explanation of the banking system.
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Thursday 15 March 2012
The Financial Crisis Explained
For those of you who are confused about the financial system, how it works and why we're now in recession, this video provides a useful explanation:
This is very relevant to human geography and links in well with development and globalisation - for example the globalisation of the economy means that countries are now so interdependent that when things like this happen it has a knock on effect and everyone suffers (well, except the bankers it seems with their ridiculous bonuses). Also see this story and this article for an explanation of the banking system.
This is very relevant to human geography and links in well with development and globalisation - for example the globalisation of the economy means that countries are now so interdependent that when things like this happen it has a knock on effect and everyone suffers (well, except the bankers it seems with their ridiculous bonuses). Also see this story and this article for an explanation of the banking system.
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