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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 ...
2013 was a common year starting on Tuesday of the Gregorian calendar, the 2013th year of the Common Era (CE) and Anno Domini (AD) designations, the 13th year of the 3rd millennium and the 21st century, and the 4th year of the 2010s decade.
International relations South Korea offers to hold talks with North Korea over reopening a joint factory complex in the North Korean town of Kaesong which shut down in April. (AP via The Hindu) Law and Crime Scotland Yard discovers new evidence and new witnesses in the Madeleine McCann case and opens a formal investigation into her disappearance. (BBC) Egypt arrests Mohammed Badie, the Supreme ...
July 17 – Rolling Stone Magazine editors approve a cover photo that some believe glamourizes Boston Marathon bombing suspect Dzhokhar Tsarnaev. [209] July 18 – The city of Detroit, Michigan, files for Chapter 9 bankruptcy protection against debts of $18.5 billion. [210] July 26 – Kidnapper Ariel Castro pleads guilty in exchange for life ...
British credit crisis of 1772–1773 – started in London and Amsterdam, begun by the collapse of the bankers Neal, James, Fordyce, and Down. War of American Independence Financing Crisis (1776) (United States) – The French monarchy went deeply into debt to finance its 1.4 billion livre support for the colonial rebels; Spain invested 700 ...
In July 1935, Senator Gerald Nye proposed a substitute bill that incorporated elements of the Chicago Plan, including 100% reserves and a central monetary authority. [35] The Banking Act of 1935 passed on August 19, 1935. It did not include 100% reserves. Jacob Viner and other economists and politicians believed that this was a first step in ...
Iceland fell into an economic depression in 2008 following the collapse of its banking system (see 2008–2011 Icelandic financial crisis). By mid-2012 Iceland is regarded as one of Europe's recovery success stories largely as a result of a currency devaluation that has effectively reduced wages by 50%--making exports more competitive.
Several major U.S. economic variables had recovered from the 2007-2009 Subprime mortgage crisis and Great Recession by the 2013-2014 time period. The recession officially ended in the second quarter of 2009, [3] but the nation's economy continued to be described as in an "economic malaise" during the second quarter of 2011. [80]