Hi as you know Lehman Brother a large corporation in Wall Street that has gone bankrupt. What are the effects of it in your country or maybe in your finances or finances of someone you knew?
I wouldn't call it the effect of those two companies specifically. I would call those milestone events in an economic crisis with the US dollar. What makes those events a bit special is that while in the recent past, the US Gov has stepped in to help out, those two companies went down comparatively with much less assistance. An interesting but probably unrelated tidbit is that Lehman was purchased by a company that is receiving a lot of help from the US gov, so it's almost possible that there could have been some private tricks going on there. The general effect of this is the drop in confidence in the US dollar. Foreign countries/companies/economies are not as interested in holding US dollars because it is dropping/fluctuating heavily and is susceptible to dropping suddenly at any moment (following a 'run on the banks' like in the depression). Countries whose currencies are pegged to the US dollar can get dragged down. Taiwan's dollar is a good example of this - the value stays relatively constant compared to the US dollar, but compared to other currencies (like the Canadian dollar), it loses ground rapidly. For Taiwan, this is bad for investment, but good for trade (exporting). For Canada, this is great for investment (something like a 40% increase against the US dollar in the last 2 or 3 years) but bad for export. In Canada, the housing market is going crazy. My parents' house has doubled in value in the last two years - compared to US dollars, it has tripled. This effect keeps compounding on itself. As the housing market gets stronger, more people want to come in (I know a guy from the Philippines who bought a house in Vancouver and sold it 2 years later for double - 800,000 CAD profit in two years for doing virtually nothing... 800,000 CAD goes a long ways in the Philippines). Hence the Canadian dollar keeps getting stronger still.