The cause of global financial crisis is very complex. There is a global bewilderment at the speed and the severity of the scope of the crisis. The financial market has suffered a great demoralization in our lifetime. US finance has run havoc causing trouble to most financial institution. Credit market has been drained, Realty Company has been closing, and unemployment is increasing as well as lending company is having a hard time. Based on record the company is facing the toughest period with the IMF. The IMF is predicting that the economy will face its toughest period causing the unemployed to rise by 8 million. Base on study in the developing countries and International Labour Organization the people that will be push into poverty might reach the 100 million mark.

The crisis is producing costs and debts for governments that will be felt for decades to come. Thirteen trillion dollars is the estimated combined liabilities from the bank bailouts. People are suffering from economic crisis because of the increasing number of unemployment, reduced wages and asset value is collapsing. According to study this condition will be felt worldwide wherein the poor countries will become poorer and the rich countries will suffer a lot. The US government are taking a step one at a time to avoid further harm on the economy. Contingency plan is taken into consideration and helping out each other can help the world overcome this financial crisis. Government are encouraging their people to find other ways to earn a living.