In the United States, the stock market plummeted, wiping out nearly $8 trillion in value between late 2007 and 2009. Unemployment climbed, peaking at 10 percent in October 2009. Americans lost $9.8 trillion in wealth as their home values plummeted and their retirement accounts vaporized.
Was there a recession in 2009?
The Great Recession began in December 2007 and ended in June 2009, which makes it the longest recession since World War II. Beyond its duration, the Great Recession was notably severe in several respects.
What was the state of the economy during the Great Recession?
The Great Recession was a global economic downturn that devastated world financial markets as well as the banking and real estate industries. The crisis led to increases in home mortgage foreclosures worldwide and caused millions of people to lose their life savings, their jobs and their homes.
What country had the most developed economy in 2009?
What country has the most developed economy in 2009?
| Country | 2000 (rank) | 2009 |
|---|---|---|
| United States | $9,764 trillion (1) | $14.003 trillion |
| Japan | $4,649 trillion (2) | $4.993 trillion |
| China | $1,198 trillion (6) Hong Kong $168 billion (25) | $4.833 trillion |
| Germany | $1,900 trillion (3) | $3.060 trillion |
What is the richest country in the world 2010?
Qatar
Qatar has now become the richest country in the world, surpassing Luxembourg in terms of gross domestic product per capita in 2010, according to new International Monetary Fund data reported by Arabian Business.
Why is Qatar GNI so high?
The exploration of oil and gas fields began in 1939. In 1973, oil production and revenues increased dramatically, moving Qatar out of the ranks of the world’s poorest countries and providing it with one of the highest per capita incomes in the world.
