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Ronald Reagan becomes elected president and starts a policy (Reaganomics). The Supply SIde economics which is in part a piece of macroeconomics that believed that lowering taxes would improve the production of supplies.
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Severe recession in the United States. Investments in the stock market show major decreases. The 1981 oil glut shows the falling demand for oil in post-war countries, that would soon rise in the decade to follow.
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Highest unemployment rate since the Great Depression. The worst umemployment rate strike occured in december of 1982 and was at about 10.8%
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When stock markets around the world crash. Starting in China's Hong Kong, the stock market had fallen around the world, hitting through Europe and ultimately landing in the U.S. This caused the DOW to plumet nearly 20%.
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George H. W. Bush senior becomes president. Tried to shape the economy to ensure his election. George Herbert Walker Bush, He won on the increase of foreign trade.
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Lowest inflation and interest rates in years.
