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1990s Recession

JULY 1990 – MARCH 1991 (8 months) The early 1990s recession was caused by a lot of different adverse financial stimuli on the economic environment of the early 90s United States. Black Monday, which occurred in October of 1987, caused a stock market collapse that cut 22.6 percent off of the Dow Jones Industrial Average.…

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Late 2000s Recession

DECEMBER 2007 – PRESENT DAY (13+ months)The late 2000s recession was started by the collapse of the housing market. Suddenly, it seemed like nobody could sell real estate. This put many real estate companies in jeopardy, and some even went out of business. Then, bank collapses caused a sort of public panic. These occurred both…

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Financial Bailout Plan

The emergency Economic Stabilization Act of 2008, more commonly known as the bailout of the U.S. financial system, is a law which was signed into power that gives the United States Secretary of Treasury up to 700 billion dollars with which it can purchase assets and mortgage-backed securities from banks which are facing issues. This…

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Late 1950′s Recession

AUGUST 1957 – APRIL 1958 (8 months) The late 50s recession, also called the recession of 1957, struck the late 50s with high unemployment rates and failing businesses. It was mostly due to the tightened monetary policy of the Federal Reserve. However, as the policy had been tightened two years previous, towards the end of…

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Homeless Camps Swelling

Last summer in Nashville, TN, police responding to complaints about campfires under a highway overpass found dozens of homeless people living on public land along the Cumberland River. Eviction notices went up — and then were suspended by Nashville Mayor Karl Dean, a Democrat, who said housing for the homeless should be found first. A year…

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Post WWI Recession

1918 – 1921 The Post-World War 1 recession was a recession that was characterized by severe hyperinflation in Europe, which spread to North America. Though brief, the recession was sharp. A lot of it had to do with the lost production that was halted at the end of the war. This, coupled with the influx…

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U.S. Budget Deficit Triples to $102.8 Billion

WASHINGTON – The federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks. The Treasury Department reported that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007. The deficit outstripped the $97 billion gap that Wall Street economists had been expecting…

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House Passes $787 Billion Economic Stimulus

The U.S. House passed President Barack Obama’s $787 billion economic stimulus plan designed to help repair the economy through tax cuts for businesses and families and a half-trillion dollars in federal spending. The House voted 246 to 183 for the measure, with no Republicans in favor and seven Democrats in opposition. The Senate plans to…

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Panic of 1907

1907 – 1908 The Panic of 1907 was the first major financial crisis to plague the U.S. in the 1900s, the last recession having been back in the 1890s. The Panic of 1907 was actually a severe monetary contraction that manifested itself as a recession. Many people lost jobs, many businesses went out of business,…

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U.S. Industrial Output & Production

This graph shows a very sharp decline in industrial output, and industrial production is a key to the depth of the economic slowdown. Up until recently export growth had been strong, and the decline in industrial production had been mild. Now, with the global economy slowing sharply, industrial production and capacity utilization are falling off…

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