IMF says US crisis is 'largest financial shock since Great Depression' The IMF sent a chill through the markets in April with its warning that the US mortgage crisis had spiralled into the largest financial shock since the Great Depression.
As savings drop, Lord Turner, ex-head of the Financial Services Authority, warns this risks causing another financial shock.
Financial shocks are shockingly common and, according to the federal Consumer Financial Protection Bureau, the capacity to absorb a financial shock is a key pillar of financial wellness.
This certainly includes older Americans, too many of whom, despite Social Security, either live in poverty or live one financial shock away from poverty.
Are we prepared for the next financial shock?
Industries that use lots of gas fear a financial shock.
A financial shock could darken the outlook immediately.
We will have another financial shock – it's inevitable".
They could slip back into poverty if they experience a financial shock.
The gap widened extraordinarily when the financial shock started last August (see chart).
