The domino Effect

1.How is the "domino effect" affecting the globl economy?
The force of those events causes a ripple of movement.
2. What caused the U.S. housing crisis?
People could not pay back their loans. Then home price fell. With homes worth less, some borrowers could not sell their homes to pay the loans.
3. Why is the cut in consumer spending a serious pr0blem?
Less spending has caused a drop in sales tax revenue.
4. How is less spending affecting local and state governments?
Local and state government are cutting programs. More then half of the 50 states have cut spending, raised taxes, or used emergency funds to balance their budgets.
5.What trend does expert Brian Sack predict for the economy?
He predict we've got a really rough time ahead of us in 2009 and 2010.
6.What have the world's key central banks done to stop the crash.
Earlier this month, they cut interest rates at the same time.