2. ECONOMIC CRISIS OF 2008 Author: Alexander Gavrik Supervized by: Klyuchnikova L.G. Supervized by: Klyuchnikova L.G.

3. Today’s crisis and Great Depression of 1930th “I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world” Paul Volcker, An economic adviser of US president “It looks awful lot like the beginning of a second Great Depression” Paul Krugman, Noble prize winning economist “It could become as bad as the great recession” Nouriel Roubini, the professor in economics

4. PRE – RECESSION CONDITIONS Housing bubble Housing bubble Inflation Inflation Dramatic oil prices Dramatic oil prices

5. Reasons George Bush discussing economic “WHAT WENT WRONG” – an article In “WASHINGTON POST” about Possible reasons of recession, written By Anthony Faiola, Ellen Nakashima And Jill Drew

6. Effects Trade: volume of worldwide trade fell down by 50% at the very beginning of the crisis Unemployment: it is predicted, that at least it is predicted, that at least 20 million jobs will have 20 million jobs will have been lost by the end of 2009 been lost by the end of 2009 due to crisis due to crisis

7. Structure of the crisis High oil prices Housing bubble Dramatic drop of oil prices CRISIS Falling of trade volume Unemployment High food prices Inflation Passive position of world governments

8. Crisis in Chelyabinsk

9. Financial crisis management The latest summit in Brussel

10. THE END Thank you for attention