Module 6: Financial Crises from the 1970s to the Late 2010s

This Module was based from the 1970s to the late 2010s. To begin, the video titled “OPEC & 1970’s Oil Crisis was about the steep rise in oil prices after the oil embargo placed on the United States. This video showed how different aspects of life changed for Americans at this time, such as the need for cheaper cars and a need to find an alternative heat source. The next video titled “Ford, Carter, and Econ Malaise” by Crash Course was about the growing global competition in the manufacturing industry. During this time period, manufacturing workers in America suffered severely from the mass amount of domestic factory closures. The third video, titled “Stagflation” by Economics USA, was about the steep rise in inflation and unemployment due to supply shortages. The fourth video titled “Michael Lewis on the 1987 Crash” was about the disconnect between the financial markets and the economy that led to the crash of 1987. The fifth video was titled the “History of Starbucks” and was about the development of Starbucks from a single shop to the franchise that it is today. Finally, the final part of the module was to watch the film “Big Short”, which I have watched a few times. This film highlights the factors that contributed to the housing market crash of 2008. In the film, banks were selling mortgages to people who had no chance of paying them back, so everyone defaulted when it came time for the money to start coming back to the bank. The whole system fell apart, leaving the economy in shambles. Overall, this module focused on the financial crises from the 1970s to the late 2010s.

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