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Worst week for the stock market in 75 years!
Savings Result
Summary- Stocks fell tremendously with the Dow down as much as 800 points during the session, the $700 billion bank bailout plan. After the fall European governments tried to help the faltering banks but failed to fix it fast enough for the frightened investors to stay. -
Japaan suspends imports of U.S. wheat.
(Trade)
Monetary
Japan suspended imports of the United States wheat after they found that genetically engineered wheat was growing in Oregon, this could potentially have an impact on Washington farmers. -
Detroit files for Chapter 9 bankruptcy.
Budget
Monetary
Detroit files the largest municipal bankruptcy in the nation’s history, resulting in a decline of the fourth largest city in the US. Earlier in 2013, Detroit faced a debt of $19 billion, leading the government to liquidate the cities most valuable resources. -
The Affordable Care Act’s health insurance exchanges debuts.
Leadership
Fiscal
ObamaCare actually began in 2010. Then in 2013 ObamaCare expanded with the affordable care act. This change improved lots of things like; affordability, quality and availability of insurance and, it also continues to reduce the growth of spending on health care through new taxes and budget cuts. -
Saudi Arabia cuts the price of its crude oil exports to the U.S.
Trade
Fiscal
Saudi Arabia lowered their prices for the customers in US in order to prop up the share with the american market. While they raised prices elsewhere. -
Minimum wage.
Budget
Fiscal
Even with the minimum wage being increased to $9 to $10 dollars an hour, it is still not enough to keep up with the cost of living. RWD (Raise the Wage) is a campaign that started in order to raise awareness of this issue, and it proposes that minimum wage be raised to $15 dollars an hour.
