The economic crisis What is the economic crisis? The economic crisis is a situation in which there are important negative changes in the main economic variables, and especially in GDP and employment, however, It remains difficult to pin down what exactly an economic crisis is.  Who is to blame? I do not know exactly who are to blame for the economic crisis. I believe the banks, the rulers and their opponents, the big international institutions and the consumers have responsibility for the economic crisis.  According to some, the economic crisis is not even finished; for others we are suffering from its after-effects. In my opinion, in Spain are suffering a big economic crisis since 2007, and in 1992 we also had an economic crisis after the Expo in Seville and the Olympic games in Barcelona. How the economic situation is affecting our society? There are people who say that "we have lived beyond our means", but I do not totally agree since many people can not pay the mortgage because the banks offered mortgages in a very easy way and without almost conditions while the housing bubble was still growing. At the moment, there are citizens do not have a home where they live because they have been eviction. This process is known as foreclosure. The fundamental economic problem is the issue of scarcity. Economics is concerned with dealing how to allocate resources in society to make the most efficient and fair use of resources. This situation implies a smaller number of jobs and most of them are temporary and precarious jobs. As a consequence, unemployment has reached, in many cases, all active members of the household, both the elderly and the young, as well as the extinction of benefits. On the other hand, the economic crisis is accompanied by a sharp rise in the prices like gasoline, food, rent, taxes among other things, have exorbitant prices and citizens need to save to be able to pay the minimum expenses to live. To finish, I would like to say that in most cases politicians do not achieve the expectations of citizens and we suffer the consequences.