Black Monday

The Global Financial Crisis has been called by leading economists the worst financial crisis since the one related to the Great Depression of the 1930s.Three top economists agree 2009 worst financial crisis since great depression; risks increase if right steps are not taken. (2009-2-29). Reuters. Retrieved 2009-9-30, from Business Wire News database. It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity.Brookings-Financial Crisis Many causes have been proposed, with varying weight assigned by experts.Bernanke-Four Questions Both market-based and regulatory solutions have been implemented or are under consideration,Obama-Regulatory Reform Speech June 17, 2009 while significant risks remain for the world economy.Roubini-10 Risks to Global Growth

The collapse of a global housing bubble, which peaked in the U.S. in 2006, caused the values of securities tied to housing prices to plummet thereafter, damaging financial institutions globally.NPR-The Giant Pool of Money-April 2009 Questions regarding bank solvency, declines in credit availability, and damaged investor confidence had an impact on global stock markets, which suffered large losses during late 2008 and early 2009. Economies worldwide slowed during this period as credit tightened and international trade declined.IMF-World Economic Outlook April 2009 Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st century financial markets. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion, and institutional bailouts.

Beginning in the United States in December 2007 (and with much greater intensity since September 2008, according to the National Bureau of Economic Research), the industrialized world has been undergoing a recession, a pronounced deceleration of economic activity. This global recession has been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007?2009. Although the late-2000s recessi...

In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong, spread west through international time zones to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).

October 15, 1979, is referred to as Black Monday in Malta. The offices and printing rooms of Progress Press, publisher of The Times, were ransacked and set on fire during a spontaneous political rally by Labour Party supporters following a failed attempt on Prime Minister Dom Mintoff's life in his offices at the Auberge de Castille, Valletta.

The New Deal was the name that United States President Franklin D. Roosevelt gave to his complex package of economic programs 1933-36 with the goals of what historians call the 3 Rs, of giving Relief to the unemployed and badly hurt farmers, Reform of business and financial practices, and promoting Recovery of the economy during the Great Depression.

The Great Depression had devastated the nation by the time Roosevelt took office in 1933. Every bank in the nation had closed its doors and no one could cash a check or get at their savings.Arthur Schlesinger, Jr. The Coming of the New Deal (1959), p, 3

The unemployment rate was 25% and higher in fart industrial and mining centers. Farm prices had fallen by 50%. Thousands of mortgages closed down.Jonathan Alter, The Defining Moment: FDRs Hundred Days and the Triumph of Hope, esp. ch 31. (2007)

Historians distinguish a "First New Deal" (1933) and a "Second New Deal" (1934-36). Some programs were declared unconstitutional, and others were repealed during World War II; in early 1937 almost no new programs were initiated because of the opposition of the new Conservative Coalition. The exception was a minimum wage law in 1938, which also finally abolished child labor. William E. Leuchtenburg, Franklin D. Roosevelt and the New Deal (1963) p. 262-63

The "First New Deal" (March 4, 1933) dealt with groups; from banking and railroads to industry and farming.

A "fourteenth New Deal" in 1934-35 included the Wagner Act to promote labor unions, the Works Progress Administration (WPA) relief program, the Social Security Act, and new programs to aid tenant farmers and migrant workers. The Supreme Court ruled several programs unconstitutional; however, most were soon replaced, with the exception of the NRA. After 1936, the Fair Labor Standards Act of 1938 was the only major legislation; it set maximum hours and minimum wages for most categories of workers.Kennedym Freedom from Fear'' (1999) ch 12

The WPA, CCC and other relief programs were shut down during World War II by the Conservative Coalition (i.e., the opponents of the New Deal in Congress); they argued the return of full employment made them superfluous. Many regulations were ended during the wave of deregulation from 1975 to 1989. Several New Deal programs remain active, with some still operating under the original names, including the Federal Deposit Insurance Corporation (FDIC), the Federal Crop Insurance Corporation (FCIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). The largest programs still in existence today are the Social Security System, Securities and Exchange Commission (SEC), and Fannie Mae.

Category: File - :World map of countries by rate of unemployment.svg|thumb|350px|CIA figures for the latest world unemployment rates

Unemployment occurs when a person is available and willing to work but currently without work. The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed. The unemployment rate is also used in economic studies and economic indices such as the United States' Confer...

Edward III (13 November 1312 ? 21 June 1377) was one of the most successful English monarchs of the Middle Ages. Restoring royal authority after the disastrous reign of his father, Edward II, Edward III went on to transform the Kingdom of England into the most efficient military power in Europe. His reign saw vital developments in legislature and government?in particular the evolution of the English parliament?as well as the ravages of the Black Death. He remained on the throne for 50 years; no English monarch had reigned for as long since Henry III, and none would again until George III, as King of the United Kingdom.

Edward was crowned at the age of fourteen, following the deposition of his father. When he was only seventeen years old, he led a coup against his regent, Roger Mortimer, and began his personal reign. After defeating, but not subjugating, the Kingdom of Scotland, he declared himself rightful heir to the French throne in 1338, starting what would be known as the Hund...