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Stock Market Crash
Due to speculation and people getting afraid, people pulled their money out of the banks, which caused the stock market to crash. This was followed by a long recession, massive poverty, and job loss. -
Pearl Harbor
The attack on Pearl Harbor was a surprise military strike by the Imperial Japanese Navy Air Service against the United States naval base at Pearl Harbor, Hawaii Territory. -
WWII
After bombing of Pearl Harbor, president Roosevelt declared war on Germany, which lead to a massive war effort and recovery of the economy. -
Post War Economy
Massive economic growth until 1960. -
Vietnamese Conflict
American economy back into war time economy. Created a need for military goods and services. -
End of the Cold War
Began to stop the arm race and the money put into by the U.S. economy. -
Hurricanes Katrina and Rita
Hurricane Katrina hit the Gulf Coast and was the biggest natural disaster in U.S. history almost completely destroying the city of New Orleans with its severe flooding. Then hurricane Rita followed and made things worse. More than $200 billion in damage was done between the two storms. -
Collapse of Wall Street
The entire system of banks collapsed due to the mortgage crisis and serious corporate fraud. -
Obama Administration
The Obama Administration took control of the country to begin economic recovery.