An overview: The ’07 Sub-prime Mortgage Failure

Today, there are still millions of unemployed people, the unemployment rate is 7%, credit is getting more rigorous, the company is gradually recovering. The subprime financial crisis in 2007 and 2008 economically destroyed the lives of many people, but why can this happen? What is a subprime mortgage? According to investopedia.com, the subprime mortgage is a loan for individuals with low creditworthiness (usually less than 600) that can not acquire traditional qualifications due to insufficient credit ratings Mortgage.

00:06:52 2008 - Financial crisis occurred due to insufficient mortgage foreclosure due to poor subprime mortgage, the unemployment rate was highly failed and the stock market collapsed, and at the same time the US government made economic stimulus measures Package and TARP (Account Relief Program recommended by Treasury Secretary Hank Paulson) to aid the economic downturn. The rapid growth of artificial intelligence, the rise of a shared economy, the prosperity of hydropower, the threat of new brand Islamic terrorists from overseas, breakthrough of same sexual marriage, American business and lifestyle turmoil lasted four years. Gay rights

We are at the forefront of the new industrial revolution, but on this cliff it is important to remember the historical reproduction, first of all after the tragedy and the farm. The US subprime mortgage crisis that began in 2007 rapidly spread to the international currency crisis, billions of dollars in global remedies, and ultimately the Great Depression and the European debt crisis. In parallel with these failures, there is the creation of a new type of currency that attempts to solve problems that stood up from the tragedy ash and had a major impact on the financial community. In the next decade or so, the encryption currency should not face the "too big to fail" problem faced by the traditional financial industry.