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Significant Events during 2000-2009 by Mai Kimura - Coggle Diagram
Significant Events during 2000-2009 by Mai Kimura
2000
Bursting of the Dot.com/Technology Bubble
internet was in style and Entrepreneurs saw potential in online business
everyone talked about "new economy" which referred to an Internet-driven economy
most of the dot.com stocks like Yahoo.com were listed on the NASDAQ
NASDAQ closed above 5000 in January and was trading around ten years later
in April, an inflation report caused the speculative bubble to burst and there were huge investment loss
2002
Stock Market Crash
after 9/11, the stock market rallied but began to slide again in March
market reached lows and it was not seen since 1997 and 1998 by July and September
the corporate fraud scandals were contributors to the loss of investor confidence in the stock market
known as stock market crash or internet bubble busting
the Dow Jones Industrial Average had lost 27% of the value it held on January 1, 2001
2005
China and India Grow as World Financial Powers
on August 25, Hurricane Katrina hit the Gulf Coast of the U.S.
economists estimate that both nations can grow at the rate of 7-8% for decades to come
countries (such as United States) initially started outsourcing work to China and India because of cheap labor
the two countries account for one-third of the world 's population
China, alone has grown at about 9.6% for the past two decades
a million scientists and engineers are trained in India and China each year compared to much lower number in the U.S.
2007
Sub-Prime Housing Crisis and the Housing Bubble
the U.S. housing market was booming in the early part of the 21st century
individuals and families could not have qualified for a mortgage were able to qualify for adjustable-rate with not low down payments and low initial interest
a phenomenon called sub-prime lending arose
banks made mortgage loans to these individuals for houses with inflated values
housing values were high
large financial institution holding portfolios of loans that were worthless
2008
The Great Recession
In September, a seemingly perfect storm of factors came together to predicate the deepest economic downturn in not only the U.S.
However, it is across the globe, since the Great Depression
the great investment banks had stood on Wall Street began to collapse due to the sub-prime mortgage crisis and serious corporate fraud
crude oil hits a peak of $140 per barrel on June 26
Barack Obama wins the presidential election on November 4
the federal government takes over Fannie Mae and Freddie Mc on September 7
the federal stepped in to bail out some of institutions in order to keep the U.S. financial system afloat during the Bush Administration
2001
9/11 Terrorist Attacks
only the third time in history that the New York Stock Exchange was shut down for a period of time (September 10-17)
besides the tragic human loss of that day, the economic loss cannot even be estimated
9/11 were the events that helped shape other financial events of decade
after that on September, economic climate was never be to be the same again
9/11 caused a catastrophic financial loss for the U.S.
2006
Austrian girl escapes from kidnapper's house after 8 years
on August 23, Natascha Kampusch was kidnapped at age 10
the kidnapper was Wolfgang Priklopil, which he committed suiside by jumping in front of a train
when she Kampusch was 18, she was vacuuming Priklopil's car when he walked away from noise to answer on his cellphone
Kampusch initially made statements indicating she felt sorry for her captor
Kampusch became an international celebrity
she escaped and ran to the house of neighbor, who called the police
2003
War in Iraq begins
President Bush declared the end of major combat operations on March 1
though Saddam Hussein had declared in early March that, "it is without doubt that the faithful will be victorious against aggression" spoke to his people
President Bush and his advisors built much of their case for war on the idea that under Iraq, under dictator Saddam Hussein
possessed in the process of building weapons of mass destruction
on March, the United States and United Kingdom initiates war on Iraq
despite the defeat of conventional military forces in Iraq, an insurgency continued an intense guerrilla war in the nation in the years since military victory was announced
resulted thousands of coalition military, insurgent and civilian deaths
2004
Summer Olympics in Athens, Greece
Summer Olympics took place in Athens on August 13-39
retuned home to Greece, birthplace of the ancient Games and site of the in augural modern Olympics
the Athen Games were the 25th occurrence of the modern Olympic Game
more than 20 athletes were disqualified after they failed tests for performance-enhancing-drug use, and controversies over scoring in gymnastics and fencing made headlines
IOC president Jacques Rogge declared the Athens Olympics "unforgettable, dream Games
nearly 11,100 athletes competed in 37 disciplines in 28 sports
women participated in freestyle wrestling and sabre fencing for the first time
2009
Barack Obama became president
Obama's inauguration set an attendance record, with 1.8 million people gathering in the cold to witness it
Obama's first acts in office was the signing of The Lilly Ledbetter Fair Pay Act of 2009
became 44th U.S. President and the first African American to hold the office
his word captured the historic moment: "if there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time , who still questions the power of our democracy, tonight is you answer"
he was recognized with a 2009 Nobel Peace Prize "for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples" and for his "vision of and work for a world without nuclear weapons"
