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Category Archives: Economic History
Barack Obama
On January 20, 2009, Barack Hussein Obama became the 44th President of the United States of America. It is an important event in history because he is also the first African American President of the US. He represents change to not only myself but everyone who believed in him and his message. I believe Obama is just what this nation needed in times of struggle, change and hope.
This photo was obtained in the New York Times : http://artsbeat.blogs.nytimes.com/2010/05/28/judge-urges-resolution-in-use-of-obama-photo/?scp=1&sq=obama%20pictures&st=cse
Photo is by Shepard Fairey.
Introduction of Xbox
This here is the original Xbox introduced in November 15th, 2001. It can be found under the numerous websites from fans of the system.
It marks an important day in American History, as it is the day that America became a major player in the video game industry in terms of consoles which was dominated by the Sony Playstation 2 and Nintento Gamecube. In the following years, Microsoft introduced the Xbox360 which became a major competitor for Sony’s Playstation 3 and Nintedo’s Wii. God Bless America.
Posted in 2001-present, Economic History, June 7 assignment
Tagged america, consoles, games, xbox
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Subprime Mortage Crisis
This image is from NYTimes.com
On April 2007, Subprime mortgage company went into bankruptcy with trillions dollars of consumer’s credit debt in mortgage program. It caused huge financial crisis of 2008 not only in U.S.A, as much as in global market.
This crisis brough the consecutive collapses of all kinds of financial companies such as banks, funds, insurance companies and other businesses. It affect high inflation of all goods, unstability of the price, high unemployment, and the decrease of productive capacity and a downfall of real estate market. The government economy also shrank up from financial damage and moreover, the entire world seemed to become a great depression as a whole.
Posted in 2001-present, Economic History, June 7 assignment
Tagged crisis, finance, subprime
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