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"Reaganomics" Era
Associated w/ low taxes and free market activity -
1987 Stock Market Crash
Trade deficit hit a record high, and stock market crashed that same autumn. -
Penny Stock Task Force
As a result from fraud regarding "penny stocks" (stocks that trade for less than a dollar), the SEC established this task force to combat the great Penny Stock Scandal era of the 1980s. -
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North American Drought
Killed up to 17,000, and was the costliest drought in U.S. history. Crop yield was low and many economies suffered. -
Iraqi Kuwait Invasion
The United States took Kuwait's side when Iraqi troops invaded it for oil purposes. The Gulf War began, and the subsequent war between the U.S. and Iraq leads to higher oil prices, reduced consumption, and declining demand. -
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Recession
Largest recession since early 1980s, mainly due to the business cycle and restrictive monetary policy. -
World Wide Web Opens to the Public
The internet was made open to public use in 1991. This would set the basis for a new job, opportunity, and selling market for many Americans and global citizens. -
NAFTA Signed
NAFTA was signed in 1994, opening the door for increased regional and cross-American trade between Mexico and Canada. Aimed to boost trade, reduce tariffs, and eliminate barriers. -
Economic Peak
The economic boom of 1990s caused 1994 peak… GDP growth was 4.11%, 3.8 million jobs created (more than any other time in the 90's), deficit reduced -
WTO Established
The World Trade organization was established in 1995. Aims to create free market trade globally, enforce quality standards, and increase economic transparency in countries.