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Embargo on U.S.S.R
Jimmy Carter creates an embargo on grain and certain technology in response to the Soviet invasion of Afghanistan -
IMB-PC Released
The first personal computer is realeased - the IBM 5150. It retailed for $1,565 -
AT&T Monopoly Broken Up
AT&T settles with the Department of Justice and agrees to split into a multitude of regional companies -
Unemployment Hits New High
Unemployment hits 10.4%, the highest since 1940. Over 11 million people are unemployed. -
Black Monday
Stock Marget crashes an astounding 22.6% in one day. The day will later be refered to as Black Monday -
Strongest US Economy in Years
Labor Department reports a growth rate of 3.8%, the largest in 4 years, and an unemployment rate of 5.3%, the lowest in 14 years -
GE buys RCA
General Electric buys RCA corporation for $6.28 billion. It was the largest merger in history at the time outside the oil indusdry -
Exxon Oil Spill
The Exxon Valdez crashed into Bligh Reef in Alaska, causing an oil spill of 11 million gallons that spread 45 miles. It was the largest oil spill in United States history at the time