economics.quest

OPEC declares an oil embargo. Gas prices quadruple overnight. Stagflation grips the nation as both inflation and unemployment soar. The economy is caught in a vice.

Over 1,000 savings and loan institutions collapse after deregulation leads to reckless speculation. Taxpayers face a $160 billion bailout. Trust in banking crumbles.

Internet mania sends stock valuations into orbit. Companies with no revenue are worth billions. The NASDAQ soars past 5,000 before reality catches up and the bubble bursts.

Subprime mortgages and derivatives create a house of cards. Lehman Brothers collapses. Credit markets freeze globally. The world economy teeters on the brink of total collapse.

The recovery benefits the top 1% while wages stagnate for everyone else. Quantitative easing inflates asset prices. Gig economy replaces stable employment. Social unrest grows.