global financial meltdown
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Like the United States, Europe suffered a severe slump in the wake of the global financial meltdown; but the human costs of that slump seemed far less in Europe than in America.
Last fall we very likely would have had a serious and perhaps global financial meltdown with extraordinarily adverse implications for the U.S. and global economies.
Art Cashin,the floor director at UBS Financial Services, says many investors worry that the uncertainty in Europe could trigger another global meltdown.
But he admitted that there was a one-in-five chance of a global financial meltdown.
BBC: IMF warns over dollar collapse
Now he may best be remembered as the biggest individual loser of the 2008 global financial meltdown.
FORBES: Former Billionaire Declares Personal Bankruptcy
The global financial meltdown raises questions about whether the financing will be available to carry out these supertall projects.
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