2008 Economic Crash (Pacific Sunrise)

The Economic Crash of 2008 was an economic crash that was indicated by the collapse of share prices in many stock exchanges worldwide starting on the 29th of September in 2008.

The crash has roots that began in 2007 with a crisis in the subprime mortgage market in the United States, and developed into a full-blown international banking crisis, starting with the collapse of the investment bank Lehman Brothers on 15 September 2008. Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed by various governments worldwide to prevent a possible collapse of the world financial system.

What resulted was an at times violent shakeup of the global geopolitical and economic stage, with notable things such as most of North America and parts of South America becoming balkanized due to a combination of increased regionalism and disagreement with the fiscal policies of their former central governments, particularly in Canada and the United States.