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First Bank Opened
This economic milestone for the new young nation started when George Washington opened the first bank of the United States. This bank lead to more like it and eveloped into a prouctive and profitable business. This happened during a recovery stage -
Painc of 1796
This "panic" was part and part invlved the British and the inability to afford land. This in hand was caused by citizens and offshore investors who didnt have backed money virtually making te payment usless. This Also happened during a recovery stage. -
Painc of 1819
Yet another painc for this young nation, this one was the very first peace time crisis and was mainly caused by the transistion they took from Euorpean commercial status to a more capitolization government. This happened during a reccession. -
Panic of 1837
This panic was souly casued by rapid price rise of land,cotton, and slaves. Like most economic panics investors pull money away from these projects which causes these to happen. This happened during a Prosperty stage. -
Painc of 1857
The first panic to be caused by a world wide economic crisis. This means much like other countires going through a reccession due to over-exapnsion in their economies -
Panic of 1901
This panic was caused by a stock market crash due to people's effort to control Northern Pacific's railroads by buying up thier stock. This event happened during a reccession. -
Deprssion of 1920
Although labled as a depression it is heavily over looked becasue of the great depression in 1929-1930. This specific depression was caused by the end of WWI. The U.S no longer needed to supply allies with products which slowed production. The return of troops cuased a surge in the civillian workforce. This happened during a reccesion stage. -
Black Tuesday
This day marked the crash of MAerica's stock market and start of a doomed period we all know as the Great Depression. This time was plunged into by mulitple banks closing. This happened during a prosperty stage. -
The Great Depression
This is perhaps the most well-known economic crisis to happen to the U.S. This lasing time of despair was cuased by the expensive habits of roaring 20's and eventually it caught up to them. The stock market crashed plunging this antion into turmoil. This happened during a time of prosperty. -
Pearl Harbor
"Yesterday- December 7th, 1941, a day which wil live in infamy. This is the date that WWII started for the world's super power, America. This day is important becasue this date casued an economic boom in the U.S. This happened during a recovery stage. -
Savings and Loan Crisis
This economic crisis was caused by more leanent accounting rules allowing businesses and citizens to operate in less than ethical ways. Duing this crisis the U.S doubled intrest rates to counteract the major inflation. The homeowners could not hold on and a third of all loans were closed. This happened during a property stage. -
Black Monday
This is the date the morgage and loan crisis started. On this day much like black tuesday 58 years the stock market crashed. But in this case it started in foregin countries and fastly spread to the U.S. this day is shown in the hit movie "Wolf on Wall Street". This happened during a prosperty stage. -
2000's Energy Crisis
This crisis happened becasue the inflation of crude oil. This in hand was caused by tensions with the middle east. This tension came from the current situation of having troops against their neighbors. This happened during a reccession period. -
Housing Bubble
This economic crisis was partially caused by housing appreciation rising and partially by low intrest rates skating by for so long. Eventully the prices of these homes skyrocketed to unreachable prices causing the housing market to crash. This happened during a reccession stage -
Automotive Crisis
This world wide, world affected crsis invovled America's "big 3" companies. Crysler, GM, and Ford. Ford accuqired a credit loan in case of they get a bridging loan. The company lost the money and the government bailed them out causing this particualr crisis. This happned during a recovery stage.
