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trough

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external shock

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Trough

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Consumer expectation- When the economy started going down people panicked which made the decline steeper.

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covid 19 was a global outbreak. It originally started in China and spread to the U.S.. It became a pandemic due to highly infectivity and pathogenicity

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external shocks

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March of 2000

Massive over-investment in telecoms and IT infrastructure. This investment rush led to exponential growth and a subsequent collapse in the Nasdaq, the market for U.S. Technologies

Business investments

Contraction

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Trough

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External Shocks

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An oil shock that caused energy prices to skyrocket. This was caused by the refusal of OPEC to sell crude to the U.S. This caused high inflation and stagnation in the 1970s.

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1973-1974

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Greatest, most prolonged economic recession in modern world history. Roaring 20's led to Great Depression.

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what happened: The Great Recession refers to the economic downturn from 2007 to 2009 after the bursting of the U.S. housing bubble and the global financial crisis.

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what happened: The Great Recession refers to the economic downturn from 2007 to 2009 after the bursting of the U.S. housing bubble and the global financial crisis.

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four coordinated terrorist attacks carried out by al-Qaeda, an Islamist extremist group, that occurred on the morning of September 11, 2001.

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Time: 9/11/2001

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1929-1941