Economic Crises

By Cody Chase

  • Stock Market Crash 1929

    Stock Market Crash 1929
    On October 29, 1929 some 16 million shares were traded on the New York Stock Exchange in a single day. Billions of dollars were lost wiping out many investors. This one one of the factors that led to the great depression.

  • OPEC Energy Crisis

    OPEC Energy Crisis
    In the early 1970's American oil consumption in the form of gasoline was rising while domestic oil production was declining. This problem led to a spike in gas prices. On top of that OPEC created an oil embargo that made prices skyrocket and many gas stations didn't have any gas. The price of oil per barrel went for $3 a barrel to $12 barrel.

  • 80's Recession

    80's Recession
    From 1980-82 the US economy experienced a deep recession. The main reason was the dis-inflationary monetary policy adopted by the Federal Reserve. A gradual loosening of monetary policy as well as the stimulative effects of tax cuts and defense spending increases promoted a sustained yet uneven recovery.