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9/11 terror attacks
The attack costed us an estimated 3.3 trillion dollars. These attacks also caused a war of terror between us and al-Qaeda which would cause more of an economic rescission also it caused the New York stock market to close for 10 days. 9/11 also put the US evem more into debt to improve our security. -
Stock Market Crash
The stock market fell due to the corporate fraud scandals, such as Enron, along with 9/11, were contributors to this loss of investor confidence in the stock market. -
The Iraq war was launched
The government launched troops over to Iraq which costed us over 900 billion dollars which took a lot of money out of our economy. -
Hurricane Charley
Hurricane Charley hit Florida and caused a great amount of damage that would end up costing the government 17 billion dollars which slowed the economy down. -
Hurricane Katrina and Rita
Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history and then Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. -
The Housing Bubble
Houses were at a peak causing real estate to boom. Then later the market fell and tons of people were losing money on their real estate -
Subprime Crisis
The subprime mortgage crisis occurred when banks sold too many mortgages to feed the demand for mortgage-backed securities sold through the secondary market. -
Economic recession
The Great Recession was a global economic downturn that devastated world financial markets as well as the banking and real estate industries. The crisis led to increases in home mortgage foreclosures worldwide and caused millions of people to lose their life savings, their jobs and their homes. -
American Recovery and Reinvestment Act of 2009
This act was to put 831 billion dollars in U.S. citizens pockets to get the economy back to normal and boost consumer confidence.
