there have been a number of economic and financial crises in the United States
DALLAS (PRWEB) March 06, 2018
There have been various types of financial crisis that Americans have endured and National Debt Relief explains some of these. The article titled “What Have Previous Economic Crises in America Looked Like?” released March 2, 2018, aims to help consumers by giving them an idea of how past economic challenges has shaped the present-day economy.
The article starts off by pointing out that there have been a number of economic and financial crises in the United States. As a result, a lot of consumers, as well as lenders, are often times concerned with every movement in the market. All these affected the way the American public lived and it is best for people to have an idea what contributed to these events.
The article shares that one of the more recent challenges the country had to endure was the subprime mortgage crisis that affected a lot of people. This was the time when the housing market collapsed leaving a lot of people homeless and even out of jobs. This also resulted in a steep decline in the net worth of people.
The article also explains the OPEC oil embargo that happened in 1973. This was a protest to US foreign policy which resulted in a halt in oil import and led to a price hike. Apart from soaring gas prices, there was fuel shortage to the point that gas stations were running out of fuel. This consumer tension even led to violence. This made the country take a serious look at energy conservation and alternative energy sources.
The article also shares how the Dot-Com bubble affected the economy in the late 90s. This was the time when tech companies were in fire and venture capitalists were putting in billions into it. The problem started when the companies had a challenging time monetizing their products and services effectively. This led to companies shutting down and investors losing billions.
To read the full article, click https://www.nationaldebtrelief.com/previous-economic-crises-america/