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The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
The economy entered a strong recovery and experienced a lengthy expansion through 1990. [3] Principal causes of the 1980 recession included contractionary monetary policy undertaken by the Federal Reserve to combat double digit inflation and residual effects of the energy crisis. [4]
A financial panic was narrowly averted in 1860 by the first use of clearing house certificates between banks. [9] 1865–1867 recession April 1865 – December 1867 2 years 8 months 3 years 10 months −23.8% — The American Civil War ended in April 1865, and the country entered a lengthy period of general deflation that lasted until 1896.
The economy was in recession in 1981–1983, but recovered and grew sharply after that. The Iran–Contra affair was the most prominent scandal during this time, wherein the Reagan Administration sold weapons to Iran , and used the money for CIA aid to pro-American guerrilla Contras in left-leaning Nicaragua.
2007–2008 financial crisis; Great Recession (worldwide) 2000s energy crisis (2003–2009) oil price bubble; Subprime mortgage crisis (US) (2007–2010) 2000s United States housing bubble and 2000s United States housing market correction (2003–2011) 2008–2010 automotive industry crisis (US) 2008–2011 Icelandic financial crisis
Some of the key economic events during the collapse of the Japanese asset price bubble include the 1997 Asian financial crisis and the dot-com bubble. In addition, more recent economic events, such as the 2007–2008 financial crisis and August 2011 stock markets fall have prolonged this period. Black Wednesday: 16 Sep 1992 UK
On December 5, 2018, after 90 days of inactivity from the volcano, the eruption that started in 1983 was declared to be over. January 18 – The International Olympic Committee restores Native American athlete Jim Thorpe's Olympic medals to his family. January 19 – Apple Inc. releases the Apple Lisa personal computer.
Inflation was under control by the mid-1980s. Influenced by low and stable oil prices in combination with a steep rise in private investment and rising incomes, the economy entered what was at the time the second longest peacetime economic expansion in U.S. history. [4] [5] Mar 1991– Mar 2001 120 +2.0% +3.6%