human
I'm a bit confused by the current financial crisis. Can you explain it to me?
assistant
The current financial crisis is caused by the global economic recession that started in 2008 and has been ongoing since then. It was triggered by the collapse of the housing market, which led to a decline in consumer spending, decreased business investment, and increased unemployment. This caused a ripple effect throughout the global economy, leading to widespread declines in stock markets, currency exchange rates, and commodity prices.