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In the Great Depression, GDP fell by 27% (the deepest after demobilization is the recession beginning in December 2007, during which GDP had fallen 5.1% by the second quarter of 2009) and the unemployment rate reached 24.9% (the highest since was the 10.8% rate reached during the 1981–1982 recession). [40]
The Great Reset Initiative is an economic recovery plan drawn up by the World Economic Forum (WEF) in response to the COVID-19 pandemic. [1] The project was launched in June 2020, and a video featuring the then-Prince of Wales Charles was released to mark its launch. [2]
After failing to gain traction during the weak and brief recovery from the 1980 downturn, weakness in manufacturing and housing caused by rising interest rates began to have an expanded effect on related sectors beginning in mid-1981. [2] Job losses resumed, this time expanding to nearly all employment sectors through the end of 1982.
In addition, the media and entertainment industry during the 1980s glamorized the stock market and financial sector (e.g. the 1987 movie Wall Street), causing many young people to pursue careers as brokers, investors, or bankers instead of manufacturing and making it unlikely that any of the lost industrial base would be restored any time soon.
1980 – The Refugee Act is signed into law, reforming United States immigration law and admitted refugees on systematic basis for humanitarian reasons; 1980 – The Mount St. Helens eruption in Washington on 18 May kills 57. 1980 – U.S. presidential election, 1980: Ronald Reagan is elected president, with George H. W. Bush elected vice president
Obama: The 1980s Called, They Want Their Policy Back. DailyFinance Staff. Updated July 14, 2016 at 9:40 PM.
A timeline of some of the significant events in the crisis from 2007 to 2008 includes: From late 2007 through September 2008, before the official October 3 bailout, there was a series of smaller bank rescues that occurred which totaled almost $800 billion.
Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.