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Paul Kennedy posits that continued deficit spending, especially on military build-up, is the single most important reason for decline of any great power. The costs of the wars in Iraq and Afghanistan were as of 2017 estimated to run as high as $4.4 trillion, which Kennedy deems a major victory for Osama bin Laden, whose announced goal was to humiliate America by showcasing its casualty ...
Additionally as of September 2012, the long-term unemployment is the highest it had been since World War II, [84] and the unemployment rate peaked several months after the end of the recession (10.1% in October 2009) and was above 8% until September 2012 (7.8%).
Sometimes it seems as if the desire for a 'post-racial' America is an attempt by white people to liberate themselves from the burden of having to deal with that legacy." [216] The divide in public opinion on the status of race in America was reflected in reactions to the Black Lives Matter movement. In response to the "black lives matter ...
Regardless of how the transition happens, the pending collapse of America's current Social Security system makes it perfectly clear that the sooner it happens, the better for all involved. If ...
On this day in stock market history... "Prices of Stocks Crash in Heavy Liquidation; Total Drop of Billions" read the New York Times headline following a 6.3% drop in the Dow Jones Industrial ...
In total, 47 bankers served jail time as a result of the crisis, over half of which were from Iceland, where the crisis was the most severe and led to the collapse of all three major Icelandic banks. [62] In April 2012, Geir Haarde of Iceland became the only politician to be convicted as a result of the crisis.
“America is broke right now, and we saw that coming back in 1971, you know, Nixon took the dollar off the gold standard, and then this became trash,” he said during a recent Fox Business ...
Bank of America's rumored involvement also appeared to end as federal regulators resisted its request for government involvement in Lehman's sale. [21] By Sunday, September 14, after the Barclays deal fell through, the news of impending doom swept through Lehman, and many employees arrived at the headquarters to clean out their offices.