Construction of the tallest building signals forecoming economic meltdowns?!
Metropolitan Life Tower   <ul><li>insurance company building </li></ul><ul><li>O ne Madison Avenue in the borough of  vi M...
1907 Bankers' Panic <ul><li>a chain reaction followed a failed attempt to  iv corner the market of  United Copper  iv Comp...
Bank of Manhattan Trust building   <ul><li>Bank building  </li></ul><ul><li>William Street in Manhattan , New York City </...
The Chrysler Building <ul><li>Chrysler Corporation  Office </li></ul><ul><li>Turtle Bay  area  in   Manhattan, New York Ci...
Empire State Building <ul><li>W&H Properties  – owner and manager </li></ul><ul><li>Fifth Avenue  and  West 34th Street,  ...
The Great Depression <ul><li>Black Thursday - October 24, 1929  </li></ul><ul><li>stock prices were constantly rising </li...
 
World Trade Center <ul><li>Trade center </li></ul><ul><li>New York City’s downtown district </li></ul><ul><li>height:  526...
Sears Tower <ul><li>Sears, Roebuck & Co –  retailer   vi company </li></ul><ul><li>Chicago, Illinois </li></ul><ul><li>hei...
1973 oil crisis <ul><li>started in October 1973  </li></ul><ul><li>OAPEC  proclaimed an oil  </li></ul><ul><li>embargo  in...
The Petronas   T win  T owers <ul><li>Petronas  oil company </li></ul><ul><li>Kuala Lumpur, Malaysia </li></ul><ul><li>hei...
1997 Asian Financial Crisis <ul><li>gripped much of Asia beginning in July 199 7   </li></ul><ul><li>Thai government  cut ...
Reasons for the phenomenon <ul><li>a decline in interest rates at the onset of a boom drives land prices </li></ul><ul><li...
 
 
But hey, didn’t they just finish the tallest building in the world In Egypt somewhere?
<ul><li>Thank You  </li></ul>
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Tallest Buildings And Economic Meltdowns

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Tallest Buildings And Economic Meltdowns

  1. 1. Construction of the tallest building signals forecoming economic meltdowns?!
  2. 2. Metropolitan Life Tower <ul><li>insurance company building </li></ul><ul><li>O ne Madison Avenue in the borough of vi Manhattan in New York City </li></ul><ul><li>height: 213 m </li></ul><ul><li>plan announced in 1905, completed in 1909 </li></ul>
  3. 3. 1907 Bankers' Panic <ul><li>a chain reaction followed a failed attempt to iv corner the market of United Copper iv Company </li></ul><ul><li>bank’s customers withdrew their deposits vi while doubting banks’ vitality </li></ul><ul><li>New York Stock Exchange fell close to 50% vi from its peak the previous year </li></ul>
  4. 4. Bank of Manhattan Trust building <ul><li>Bank building </li></ul><ul><li>William Street in Manhattan , New York City </li></ul><ul><li>height: 283 m </li></ul><ul><li>was completed in 1930 after only 11 months of vi c un t st ruction. </li></ul>
  5. 5. The Chrysler Building <ul><li>Chrysler Corporation Office </li></ul><ul><li>Turtle Bay area in Manhattan, New York City </li></ul><ul><li>height: 282 m </li></ul><ul><li>constructed: 1928-1930 </li></ul>
  6. 6. Empire State Building <ul><li>W&H Properties – owner and manager </li></ul><ul><li>Fifth Avenue and West 34th Street, </li></ul><ul><li>New York City </li></ul><ul><li>height: 443 m </li></ul><ul><li>constructed: 1929–1931 </li></ul>
  7. 7. The Great Depression <ul><li>Black Thursday - October 24, 1929 </li></ul><ul><li>stock prices were constantly rising </li></ul><ul><li>people believed in investing in the Stock vi Market and the marked boomed </li></ul><ul><li>option to buy on margins </li></ul><ul><li>v ast numbers of people sold their stocks </li></ul><ul><li>the Stock Market crashed </li></ul>
  8. 9. World Trade Center <ul><li>Trade center </li></ul><ul><li>New York City’s downtown district </li></ul><ul><li>height: 526 m </li></ul><ul><li>constucted:1966-1970 (1972) </li></ul>
  9. 10. Sears Tower <ul><li>Sears, Roebuck & Co – retailer vi company </li></ul><ul><li>Chicago, Illinois </li></ul><ul><li>height: 527 m </li></ul><ul><li>constructed: 1970-1973 </li></ul>
  10. 11. 1973 oil crisis <ul><li>started in October 1973 </li></ul><ul><li>OAPEC proclaimed an oil </li></ul><ul><li>embargo in response to the U.S. </li></ul><ul><li>decision to re-supply the Israeli </li></ul><ul><li>military </li></ul><ul><li>80 % inflation-adjusted </li></ul><ul><li>collapse of the US stock market ’ </li></ul><ul><li>that followed </li></ul>
  11. 12. The Petronas T win T owers <ul><li>Petronas oil company </li></ul><ul><li>Kuala Lumpur, Malaysia </li></ul><ul><li>height: 451 m </li></ul><ul><li>constructed 1991 - 1998 </li></ul>
  12. 13. 1997 Asian Financial Crisis <ul><li>gripped much of Asia beginning in July 199 7 </li></ul><ul><li>Thai government cut the fixed exchange rate </li></ul><ul><li>to the USD </li></ul><ul><li>financial collapse of the Thai baht followed </li></ul><ul><li>When became clear that East Asian iv governments could not guarantee economic iv or financial stability, local and foreign iv investors withdrew their financial capital. </li></ul>
  13. 14. Reasons for the phenomenon <ul><li>a decline in interest rates at the onset of a boom drives land prices </li></ul><ul><li>a decline in interest rates allows increase in average size of a firm, creating demand for larger office spaces </li></ul><ul><li>low interest rates provide investment to construction technologies that enable developers to break earlier records </li></ul><ul><li>a ll three factors peak at the end of growth period. </li></ul>
  14. 17. But hey, didn’t they just finish the tallest building in the world In Egypt somewhere?
  15. 18. <ul><li>Thank You </li></ul>

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