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By March 9, 2009, the Dow had fallen to 6,500, a percentage decline exceeding the pace of the market's fall during the Great Depression and a level which the index had last seen in 1997. On March 10, 2009, a countertrend bear market rally began, taking the Dow up to 8,500 by May 6, 2009. Financial stocks were up more than 150% during this rally.
By October 2009, the unemployment rate had risen to 10.1%. [20] A broader measure of unemployment (taking into account marginally attached workers, those employed part-time for economic reasons, and some (but not all) discouraged workers) was 16.3%. [21] In July 2009, fewer jobs were lost than expected, dipping the unemployment rate from 9.5% ...
A 2009 paper identifies twelve economists and commentators who, between 2000 and 2006, predicted a recession based on the collapse of the then-booming housing market in the United States: [62] Dean Baker, Wynne Godley, Fred Harrison, Michael Hudson, Eric Janszen, Med Jones [63] Steve Keen, Jakob Brøchner Madsen, Jens Kjaer Sørensen, Kurt ...
The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
There are two schools of thought on oil prices. The first is that the recession will not last long and that exploration by major oil companies has slowed as oil fields begin to yield less. In this ...
Nassim Nicholas Taleb, the author of best-selling book The Black Swan, correctly predicted the 2008 financial crash but said "gloomy" times ahead for the U.S. economy are far more easy to spot.
the-crash-of-2008-its-the-panic-of-1825-all-over-again In a desperate attempt to stem the panic, the central bank steps in as "the lender of last resort" and unleashes a flood of new money into ...
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]