BEGINNING OF THE END CAPITALISM: MACRO EFFECTS OF THE 2008 FINANCIAL CRISIS -THE CASE OF TURKEY

Economic turmoil of worldwide began to Express discourse since 2007. Hazard has shown itself that repayment of subprime mortgage loans, fall in property prices and it give the signal of financial institutions. A large increase in all commodities and agricultural products took place in the early 2000s. Food prices reached their highest level in 2008. US dollar fell considerably against other currencies. Immovable property market(residential) occured because of a large fall in paralel with the decline of the US dollar. US residential prices tended to rise since the early 2000s. The reason being the trend of mortgage loans. Mortgage loans in the market that it has created excessive optimism, and it created an environmet that allows even low-income people to easily find loans to buy housing. Residential subprime mortgage market collapsed with the passing down of prices and the borrower has led to the bankruptcy of low-income families.

Keywords:

Crisis, subprime mortgage, low-income,

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