business

Ten years after the fall of Lehman Brothers, the stock market breaks records and wages rise

Ten years after the fall of Lehman Brothers, the stock market breaks records and wages rise

New York, September 15 (EFE) .- The American television networks Nowadays, it is the images of workers from Lehman Brothers who quit their jobs with boxes after the bankruptcy of the bank ten years ago, at the beginning of a global crisis that the country now remembers with beating records and rising wages.

Today is the tenth anniversary of the bankruptcy of Lehman Brothers, the fourth largest investment bank in the United States, and the Federal Reserve and the government decided not to save, despite having done it earlier with Bears Stearns, which eventually the problems came from JP Morgan after his malpractice with the junk mortgages.

The financial crisis led to a large concentration of banks and the US had to approve a rescue of the toxic assets of its banking business for an amount of 700,000 million dollars, and a subsequent stimulation plan for 790,000 million.

In 2009, the G20 agreed to promote the regulation of the international financial system to improve quality standards. According to the International Monetary Fund, the tsunami contracted 2.1% of the world economy for the first time since the Second World War.

After the collapse at number 725 of Seventh Avenue in New York, world trade fell by 20%, 80% of the countries went into recession – emerging economies withstood the blow – and the euro zone was questioned, where some countries have experienced serious problems, such as Greece, Portugal or Spain.

The selective S & P 500, which best reflects the company march in the US, hit the lowest on March 9, 2009, when it sank to 676.53 points; Since then, this index has appreciated almost 330%.

After collapse to the low point, the US equity market began to rise to consolidate less than a month ago as the longest positive cycle in modern history, overcoming the streak occurring in the 1990s until the outbreak of the " bubble "played" dotcom.

Part of that impetus is being implemented by several large-cap companies, including Apple and Amazon, which have recently reached a trillion dollars in the market and belong to the technology sector, whose stock market results have increased by almost 30% in the last year.

Although the bank's concentration, the need for more regulation, especially in the field of funds, the over-indebtedness of the government and companies and the international trade tensions hover over the US economy, the country that the so-called "big" Recession "has been largely restored of that situation.

While it is true that wages fell well after the collapse of Lehman Brothers, employment has fully recovered and the wage level is starting to lift the flight in the United States.

The latest figures for August show that wages have recovered, while unemployment, which remained stable at 3.9% thanks to the creation of 201,000 new jobs, provides a new indication of the good health of the population. first world economy.

The US economy is close to full employment – in this country coupled with good medical coverage – at levels that have not been seen since the beginning of the century, and job creation has been restored, which in July 157,000 new jobs.

The increase in wages also rose from an average of 10 cents per hour in August to 27.16 dollars, which increased by 2.9% in the past year. This is the largest year-on-year increase in pay in nine years, although it was very low.