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By comparison, the GDP has grown by less than 2% in 2013. [179] The negative economic effect of the shutdown will be particularly severe in the Washington, D.C. metropolitan area. Approximately 700,000 D.C. area jobs could be affected at a cost of $200 million a day. [180]
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
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January 11, 2013: Sunwest Bank 97.7 2 1st Regents Bank Andover Minnesota January 18, 2013: First Minnesota Bank 50.2 3 Covenant Bank Chicago Illinois February 15, 2013: Liberty Bank and Trust Company 58.4 4 Frontier Bank LaGrange Georgia March 8, 2013: HeritageBank of the South 258.8 5 Gold Canyon Bank Gold Canyon Arizona April 5, 2013
Capital investment, which was in decline year-on-year since the final quarter of 2006, matched the 1957–58 post war record in the first quarter of 2009. The pace of collapse in residential investment picked up speed in the first quarter of 2009, dropping 23.2% year-on-year, nearly four percentage points faster than in the previous quarter.
Key takeaways. Mortgage rates are finally ticking downward, but at the same time, home prices are reaching historic highs. Economists predict that any market correction will be modest and not on ...
In the days since, guns have killed at least 2244 more people. Chicago has seen more recent gun deaths than any other city in the U.S. In a speech there, President Obama said "too many of our children are being taken away from us" as a result of gun violence.