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Purchasing Power Of The U.S. Dollar
The U.S. Dollar Index (USDX, DXY, DX, or, informally, the "Dixie") is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. The Index goes up when the U.S. dollar gains "strength" (value) when compared to other currencies. The index is designed, maintained, and published by ICE ( Intercontinental Exchange, Inc.), with the name "U.S. Dollar Index" a registered trademark. It is a weighted geometric mean of the dollar's value relative to following select currencies: * Euro (EUR), 57.6% weight * Japanese yen (JPY), 13.6% weight * Pound sterling (GBP), 11.9% weight * Canadian dollar (CAD), 9.1% weight * Swedish krona (SEK), 4.2% weight * Swiss franc (CHF), 3.6% weight History USDX started in March 1973, soon after the dismantling of the Bretton Woods system. At its start, the value of the U.S. Dollar Index was 100.000. It has since t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Dollar Index DXY
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of The Largest Trading Partners Of The United States
The 30 largest trade partners of the United States represent 87.9% of U.S. exports, and 87.4% of U.S. imports . These figures do not include services or foreign direct investment. The largest US partners with their total trade in goods (sum of imports and exports) in billions of US dollars for calendar year 2021 are as follows: Countries of which United States is the largest trading partner The United States is also the primary export or import partner of several countries. The percentages on these tables are based on 2016 data as shown on the CIA World Factbook. See also *Economy of the United States * List of imports of the United States * Value added tax trade criticism *List of the largest trading partners of Australia *List of the largest trading partners of Canada *List of the largest trading partners of China *List of the largest trading partners of the European Union **List of the largest trading partners of Germany **List of the largest trading partners of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Equity And Fiscal Responsibility Act Of 1982
The Tax Equity and Fiscal Responsibility Act of 1982 (), also known as TEFRA, is a United States federal law that rescinded some of the effects of the Kemp-Roth Act passed the year before. Between summer 1981 and summer 1982, tax revenue fell by about 6% in real terms, caused by the dual effects of the economy dipping back into recession (the second dip of the "double dip recession") and Kemp-Roth's reduction in tax rates, and the deficit was likewise rising rapidly because of the fall in revenue, and the rise in government expenditures. The rapid rise in the budget deficit created concern among many in Congress. TEFRA was created in order to reduce the budget gap by generating revenue through closure of tax loopholes, introduction of tougher enforcement of tax rules, rescinding some of Kemp-Roth's reductions in marginal personal income tax rates that had not yet gone into effect, and raising some rates, especially corporate rates. TEFRA was introduced November 13, 1981 and was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Recovery Tax Act Of 1981
The Economic Recovery Tax Act of 1981 (ERTA), or Kemp–Roth Tax Cut, was an Act that introduced a major tax cut, which was designed to encourage economic growth. The federal law enacted by the 97th US Congress and signed into law by US President Ronald Reagan. The Accelerated Cost Recovery System (ACRS) was a major component of the Act and was amended in 1986 to become the Modified Accelerated Cost Recovery System (MACRS). Representative Jack Kemp and Senator William Roth, both Republicans, had nearly won passage of a tax cut during the Carter presidency, but Jimmy Carter feared an increase in the deficit and so prevented the bill's passage. Reagan made a major tax cut his top priority once he had taken office. The Democrats maintained a majority in the US House of Representatives during the 97th Congress, but Reagan was able to convince conservative Democrats like Phil Gramm to support the bill. The Act passed the US Congress on August 4, 1981, and was signed into law by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ronald Reagan
Ronald Wilson Reagan ( ; February 6, 1911June 5, 2004) was an American politician, actor, and union leader who served as the 40th president of the United States from 1981 to 1989. He also served as the 33rd governor of California from 1967 to 1975, after having a career in entertainment. Reagan was born in Tampico, Illinois. He graduated from Eureka College in 1932 and began to work as a sports announcer in Iowa. In 1937, Reagan moved to California, where he found Ronald Reagan filmography, work as a film actor. From 1947 to 1952, Reagan served as the president of the Screen Actors Guild, working to Hollywood blacklist, root out alleged communist influence within it. In the 1950s, he moved to a career in television and became a spokesman for General Electric. From 1959 to 1960, he again served as the guild's president. In 1964, his speech "A Time for Choosing" earned him national attention as a new conservative figure. Building a network of supporters, Reagan was 1966 Califo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1979 Oil Crisis
The 1979 oil crisis, also known as the 1979 Oil Shock or Second Oil Crisis, was an energy crisis caused by a drop in oil production in the wake of the Iranian Revolution. Although the global oil supply only decreased by approximately four percent, the oil markets' reaction raised the price of crude oil drastically over the next 12 months, more than doubling it to . The sudden increase in price was connected with fuel shortages and long lines at gas stations similar to the 1973 oil crisis. In 1980, following the onset of the Iran–Iraq War, oil production in Iran fell drastically. Iraq's oil production also dropped significantly, triggering economic recessions worldwide. Oil prices did not return to pre-crisis levels until the mid-1980s. Oil prices after 1980 began a steady decline over the next 20 years, except for a brief uptick during the Gulf War, which then reached a 60% fall-off in the 1990s. Mexico, Nigeria, and Venezuela's major oil exporters expanded their produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1976 Sterling Crisis
The 1976 sterling crisis was a currency crisis in the United Kingdom. Inflation (at close to 25% in 1975, causing high bond yields and borrowing costs), a balance of payments deficit, a public spending deficit, and the 1973 oil crisis were contributors. The origins of the crisis are traced to the 1972 Conservative "spend for growth" budget that initiated the inflation cycle. James Callaghan's Labour government had to borrow $3.9 billion from the International Monetary Fund (IMF), with the intention of maintaining the value of sterling. At the time this was the largest loan ever to have been requested from the IMF. History Initiation of the inflationary cycle is traced to Anthony Barber's 1972 budget which was designed to return the Conservatives to power in an election expected in 1974 or 1975. This budget led to a brief period growth known as "The Barber Boom," followed by a wage-price spiral, high inflation and currency depreciation, culminating in the 1976 st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jimmy Carter
James Earl Carter Jr. (born October 1, 1924) is an American politician who served as the 39th president of the United States from 1977 to 1981. A member of the Democratic Party (United States), Democratic Party, he previously served as the 76th governor of Georgia from 1971 to 1975 and as a Georgia state senator from 1963 to 1967. Since leaving office, Carter has remained engaged in political and social projects, receiving the Nobel Peace Prize in 2002 for his humanitarian work. Born and raised in Plains, Georgia, Carter graduated from the United States Naval Academy in 1946 with a Bachelor of Science degree and joined the United States Navy, serving on numerous submarines. After the death of his father in 1953, he left his naval career and returned home to Plains, where he assumed control of his family's peanut-growing business. He inherited little, due to his father's forgiveness of debts and the division of the estate amongst himself and his siblings. Nevertheless, his ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald Ford
Gerald Rudolph Ford Jr. ( ; born Leslie Lynch King Jr.; July 14, 1913December 26, 2006) was an American politician who served as the 38th president of the United States from 1974 to 1977. He was the only president never to have been elected to the office of president or vice president as well as the only president to date from Michigan. He previously served as the leader of the Republican Party in the House of Representatives, and was appointed to be the 40th vice president in 1973. When President Richard Nixon resigned in 1974, Ford succeeded to the presidency, but was defeated for election to a full term in 1976. Born in Omaha, Nebraska, and raised in Grand Rapids, Michigan, Ford attended the University of Michigan, where he was a member of the school's football team, winning two national championships. Following his senior year, he turned down offers from the Detroit Lions and Green Bay Packers, instead opting to go to Yale Law School. After the attack on Pearl Harbor, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Watergate Scandal
The Watergate scandal was a major political scandal in the United States involving the administration of President Richard Nixon from 1972 to 1974 that led to Nixon's resignation. The scandal stemmed from the Nixon administration's continual attempts to cover up its involvement in the June 17, 1972, break-in of the Democratic National Committee headquarters at the Washington, D.C., Watergate Office Building. After the five perpetrators were arrested, the press and the Justice Department connected the cash found on them at the time to the Committee for the Re-Election of the President. Further investigations, along with revelations during subsequent trials of the burglars, led the House of Representatives to grant the U.S. House Judiciary Committee additional investigative authority—to probe into "certain matters within its jurisdiction", and led the Senate to create the U.S. Senate Watergate Committee, which held hearings. Witnesses testified that Nixon had approved plans t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1973 Oil Crisis
The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by Saudi Arabia, proclaimed an oil embargo. The embargo was targeted at nations that had supported Israel during the Yom Kippur War. The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States, though the embargo also later extended to Portugal, Rhodesia and South Africa. By the end of the embargo in March 1974, the price of oil had risen nearly 300%, from US to nearly globally; US prices were significantly higher. The embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy. It was later called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock". Background Arab-Israeli conflict Ever since the recreation of the State of Israel in 1948 there has been Arab–Israeli conflict in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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