Interpretation of economic crisis in history
1.Remembering the 2008 Financial Crisis: Lessons Learned and Lasting Impact (Updated in 23/02/2023 ZIXUAN LI） The 2008 financial crisis had a significant impact on the global economy, with the United States being hit the hardest. Here are some statistics that illustrate the severity of the crisis: According to the Bureau of Labor Statistics, the U.S. unemployment rate reached a high of 10% in October 2009, up from 4.4% in May 2007. The Dow Jones Industrial Average, a stock market index, fell from a high of 14,164 in October 2007 to a low of 6,547 in March 2009. The U.S. government spent billions of dollars on bailouts for banks and other companies. The Troubled Asset Relief Program (TARP) alone provided $700 billion in funds to stabilize the financial system. Here is a chart that shows the decline in the Dow Jones Industrial Average during the crisis: Dow Jones Industrial Average during the 2008 financial crisis As you can see, the Dow Jones Industrial Average dropped ...