Archive for The History Of Recession
The history of economic recession in the United States Of America. Find out about our economic ups and downs over the years. What can the past tell us about a possible recession in 2008?
Stories From The Dot-Com Bubble
The Internet Boom Of the 1990’s
The new economy bubble shone brightest before it burst. Young geeks moved from the back rooms to the board rooms, forming their own dot com companies, making their own rules and belief systems. What they never had was solid, old-fashioned profits.
The story of internet startups in the 1990’s and [...]
How America Suffered in The Recession Of the 1930’s
Unemployment, hunger and food shortages affected millions during the Great Depression
Between the autumn of 1931 and the following spring, the casualty lists of the Great Depression grew like those of the First World War. More that 10 million people were unemployed but only a quarter of them were receiving any relief from the government or [...]
The New Deal: Ending The Great Depression
Roosevelt’s Plan To Rebuild America
The key to challenging the Great Depression in the United States was restoring confidence. When he accepted the Democratic presidential nomination, Franklin D. Roosevelt declared,
“I pledge you, I pledge myself, to a New Deal for the American people”
The phrase New Deal caught on and came to symbolize the sweeping legislation that [...]
The Great Depression: Prohibition and Crime
Crime And Booze During The Great Depression
During the Depression, at a time when many Americans might have wanted to drown their sorrows in drink, alcohol was banned in the United States. Prohibition was hailed as a great experiment at the time , but in fact it was a disaster. Millions of Americans became criminals simply [...]
The Global Effects Of The Great Depression
The Global Effects Of The Great Depression
The Great Depression was the biggest crisis ever experienced by the world economy. It hit almost every country. The highly developed economies of Western Europe and the United States: the less developed ones like Canada and, Australia, Japan and Argentina: and the underdeveloped countries of Latin America, Asia and [...]
Economic Recession In the 70’s
Oil Crisis Triggers Recession In The US In The 1970s
In 1973, the major oil-exporting nations of the world (OPEC) raised the price of oil dramatically. As oil reserves at the time were depleted ( it was predicted in 1975 that only a twenty year supply of US oil reserves remained at the current rate of [...]
A Bleak America After The Crash Of 1929
The Harsh Recession After The Crash Of 1929
When the stock market collapsed other disasters soon followed but it was not just investors who were affected. The consequences were devasting.
Prices rapidly fell, trade withered, goods were stacked up unsold, factories closed, wages were cut and millions of people lost their jobs. As the Depression hit harder, [...]
Investors Remember Black Monday 1987
What was it like to experience a great crash on the stock market like that on Black Monday, 1987? Lou Ginocchio, a broker of 13 years experience at the time was one of thousands of investors who were totally unprepared for the seismic events of October 19th 1987. Read full article.
Black Monday
Black Monday - The Sharpest Fall
On October 19th 1987, The Dow Jones Index fell from 2246.73 to 1738.41. This was the largest ever recorded drop, almost double that of the 1929 crash . $900 billion in equity simply evaporated as stock markets around the world reacted.