Year 2020…! 2007 was a year when oil prices soared, home sales plunged and the U.S. dollar took a dive. But it was also a year when the U.S. economy performed well — at least until the last quarter — and the stock markets’ major indexes are set to finish the year higher.
It was a year of surprise, but not the kind most look forward to; more like the feeling you get when you are sitting in school and the fire alarm goes off. This year, the jolt of adrenaline was felt by a whole swath of Americans: homeowners, lenders, real-estate agents, builders, and bankers alike. Yet, through it all, if government statistics are to be believed, the economy kept chugging along, missing nary a step.
There are so many stories: Stock Market Record; Dollar Collapse; Housing Crash; Credit Crunch; White Gold, and Black Gold; Germany, China, Russia; Predictions of a Depression-Style Meltdown; the list goes on and on. Looking around, dazed and still partially suffering adrenaline-induced shakes, it’s hard to know where to begin.
Which was the biggest event of them all? It’s practically a 15-way-tie, but let’s begin with …