Economic Tsunami

Economic Tsunami
A term used to describe a set of economic forces that are propelled by a single triggering event and which creates significant financial distress and destruction. As with a natural tsunami, in an economic tsunami the resulting effects can be felt far and wide, across numerous geographic regions and/or industrial sectors.

For example, in 2008 the subprime mortgage meltdown in the U.S. created an economic tsunami that effectively froze world credit markets. The resulting impact was devastating and included the government takeover of the secondary mortgage market giants Fannie Mae and Freddie Mac, the collapse of investment bank titans Bear Stearns and Lehman Brothers, the bailout of insurance giant AIG and near-bankruptcy of the country of Iceland.


Investment dictionary. . 2012.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • Tsunami children foundation — The Tsunami Children Foundation is a 501C3 Nonprofit established in the United States dedicated to offering psychological, educational and community services to communities impacted by the 2004 Indian Ocean Tsunami and other similar catastrophic… …   Wikipedia

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

  • Tsunami — For other uses, see Tsunami (disambiguation) …   Wikipedia

  • 2004 Indian Ocean earthquake and tsunami — 2004 Indian Ocean earthquake Tsunami strikes Ao Nang, Thailand. Date 00:58:53, December 26 …   Wikipedia

  • 2011 Tōhoku earthquake and tsunami — 2011 Miyagi earthquake redirects here. For the aftershock that occurred on 7 April, see April 2011 Miyagi earthquake. 2011 Tōhoku earthquake and tsunami 東日本大震災 An aerial view of damage in the Tōhoku region with black smoke coming from the Nippon… …   Wikipedia

  • Indian Ocean tsunami — ▪ 2004  tsunami that hit the coasts of several countries of South and Southeast Asia in December 2004. The tsunami and its aftermath were responsible for immense destruction and loss on the rim of the Indian Ocean.       On Dec. 26, 2004, at 7:59 …   Universalium

  • Deadliest Tsunami — ▪ 2005       On Dec. 26, 2004, at 7:59 AM local time, an undersea earthquake with a magnitude of 9.0 struck off the coast of the Indonesian island of Sumatra. (See Earth Sciences: Geophysics.) Over the next seven hours, a tsunami a series of… …   Universalium

  • Indonesia — /in deuh nee zheuh, sheuh, zee euh, doh /, n. 1. See East Indies (def. 1). 2. Republic of. Formerly, Netherlands East Indies, Dutch East Indies. a republic in the Malay Archipelago consisting of 13,677 islands, including Sumatra, Java, Sulawesi,… …   Universalium

  • 2004 Indian Ocean earthquake — Earthquake title = 2004 Indian Ocean earthquake date = December 26, 2004 depth = 30 km (19 mi) location = coord|3.316|N|95.854|E|type:landmark scale:50000000|display=inline,title Tsunami strikes Ao Nang, Thailand. type = undersea (subduction)… …   Wikipedia

  • Earth Sciences — ▪ 2009 Introduction Geology and Geochemistry       The theme of the 33rd International Geological Congress, which was held in Norway in August 2008, was “Earth System Science: Foundation for Sustainable Development.” It was attended by nearly… …   Universalium

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”