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Economics Hundred Years timeline-Fallon
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Wright Brothers Fky
This was the first time people have flown. Now people pay alot of money to fly. -
Panic of 1907
The Panic of 1907 was a financial crisis when the New York Stock Exchange dropped 50% from its peak. -
Ford Introduces the Model-T
The Ford Model-T was the first car to be affordable for a majority of Americans. -
16th Amendment to Constitution is passed.
The 16th Amendment to Constitution is passed, allowing Congress to levy a direct federal income tax on U.S. citizens. -
Federal Reserve Act is created
The Federal Reserve Act is created to avert further financial panic. It is to act as a lender of last resort. -
Clayton Antitrust Act is passed
Clayton Antitrust Act is passed requiring specific conduct for large corporations. -
The Great Gatsby is Released
The Great Gatsby was relased and has sold over 25 million copies world wide. -
Debt Funding Agreement
The debt funding agreement between Italy and America. -
Stock Market Crash of 1929
The Stock Market Crash of 1929, also known as Black Tuesday, was the first of two days that sent the U.S econmomy into a downward spiral with many Americans selling stocks. This started the Great Depression. -
Franklin D. Roosevelt elected president
FDR is elected s president, defeating Herbert Hoover. -
Federal Deposit Insurance Corporation established
The Federal Deposit Insurance Corporation was established to prtotect depositers from bank failures. -
FDR issues executive order.
FDR issues an executive order to establish work programs to provide employment -
Pearl Harbor Attacked
When Pearl Harbor was attacked America entered World War 2. Government spending in the war would help end the depression. -
Bretton Woods Conference
The Bretton Woods Conference was a meeting of world leaders to try to prevent another great depression. -
Recession of 1948
The Recession of 1948 was an 11 month recession that forecasters thought would be much worse. -
Korean War
The Korean War created the prospect of additional government debts. -
Recession of 1953
The recession of 1953 cost the U.S economy 56 billion dollars. -
USA sends money to Vietnam
America begins to send $216 in aid to Vietnam -
Cuban Missle Crisis
The Cuban Missle Crisis begins with the Soviet Union and USA both threatening each other. -
JFK Assassinated
John F. Kennedy was killed after being shot three times. -
Medicare and Medicaid are created.
They provide federal health insurance for citizens over 65 and poor citizens. -
Ban on Advertising Cigarettes
A ban on the television advertisement of cigarettes goes into affect in the United States -
Walt Disney World Opens
Walt Disney World opens and is an instant success. -
1973 Oil Crisis
The 1972 Oil Crisis caused a great oil shortage in th U.S and around the world. -
1980 Grain Embargo
President Jimmy Carter announced the embargo on sale of grain and high technology, due to the Soviet Union invasion of Afghanistan. -
High Unemployment Rate
The highest unemployment rate since 1940 was recorded at 10.4%. -
Ban On Missiles
A world-wide ban on missiles is reached between the Soviet Union and the United States to relieve citizens' worry and fear of being bombed. -
Art Theft of 1990
The largest art theft in U.S. history occurs in Boston, Massachusetts, when two thieves posing as policemen smuggle twelve paintings worth an estimated $100-200 million from the Isabella Stewart Gardner Museum. -
North American Free Trade Agreement
The North American Free Trade Agreement (NAFTA) goes into effect, creating a free trade zone between Canada, the United States, and Mexico. -
The World Trade Organization
The World Trade Organization (WTO) is created. -
9/11
Islamic terrorists bomb the U.S. Twin Towers at the World Trade Center. The attack of two planes levels the World Trade Center and the crash of one plane inflicts serious damage to the Pentagon in Arlington, Virginia, causing nearly 3,000 deaths. -
NASA Tragedy
A tragedy at NASA occurs when the Space Shuttle Columbia explodes upon reentry over Texas. All seven astronauts inside are killed. -
Hurricane Katrina
A hurricane struck the Gulf Coast, destroying the city of New Orleans. Over 1,300 people perish from Alabama to Louisiana in one of the worst natural disasters to strike the United States.
