4. Economic Crisis FIRST WAVE August 2007: The housing bubble burst in the United States September – December 2007: The Fed lowers interest rates It decreases the growth. Devaluation of the rate of change to adjust external bills. January – September 2008: The crisis extends to the overall financial sector The hit countries are the clerks of it USES. September 2008: It is the breaking point. Lehman Brothers fail February 2009: The U.S. Congress approves the fiscal stimulus package SECOND WAVE It triggers a crisis of confidence in the financial sector Loss of briefcases in Europe generates the investors' aversion to invest in emergent countries October – December 2008: The governments of developed countries announced fiscal stimulus packages January 2009: Developed countries officially entering recession WORLD CRISIS: TWO WAVES ENGLISH V– 2009/2
32. Economic Crisis THE CRISIS ACCORDING TO ALBERT EINSTEIN Let's not claim that the things change, if we always do the same. The crisis is the best blessing that him can to persons and countries happen, because the crisis brings progresses. The creativity is born of the anxiety, since the day is born of the dark night. It is in the crisis that he is born the inventive, the discoveries and the big strategies. The one who overcomes the crisis, excels himself to if same without remaining 'overcome'. The one who attributes the crisis to his defeats and penuries, violent his own talent and respects more to the problems than to the solutions. The real crisis, it is the crisis of the incompetence. The disadvantage of the persons and the countries is the indolence to find the exits and solutions. Without crisis there are no challenges, without challenges the life is a routine, a slow agony. Without crisis there are no merits. It is the crisis where the best thing of each one outcrops, because without crisis all wind is a caress. To speak about crisis is to promote it, and to be quiet in the crisis it is to exalt the conformism. Instead of this, let's work five-peseta coin. Let's finish at once with the only threatening crisis, which is the tragedy of not wanting to fight to overcome it. ENGLISH V– 2009/2
38. GOMEZ, Luisa. El mundo en recesión y Colombia estancada este año, según el FMI. El Tiempo, 23 de Abril de 2009. Pág. 1 – 2Economic Crisis ENGLISH V– 2009/2
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