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Module 14 - History of Rock Music Lecture 14 LECTURE 14...

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History of Rock Music - Lecture 14 LECTURE 14 1990s - part 2 Bill Clinton - 42 nd President of the USA Historical Background Globalization and the Internet The new world order produced a period of massive global growth. Many in the West fell to the illusion of permanent prosperity. Many in the developing world sensed the end to poverty and starvation. The first "baby boomer" to become president, Bill Clinton, was elected in 1992, becoming, at 46, the third- youngest president; only John F. Kennedy and Theodore Roosevelt were younger. The economic growth during his eight years was the longest in the history of the USA . The world was transformed by the Internet. Throughout the decade, more and more innovative software changed the way people lived their lives. In 1991 the World-Wide Web invented by Tim Berners-Lee in Geneva debuted on the Internet. From that moment on, an endless stream of new companies gradually changed the "American way of life": - by Marc Andreessen in 1994 to browse the Web - by Jerry Yang in 1994 to search the Web
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- by Craig Newmark in 1995 to serve the community - in 1997 to sell books over the Internet - by Larry Page and Sergey Brin in 1998 to search the Web - by Pierre Omidyar in 1998 for selling and buying online - by Shawn Fanning in 1999 (a system to share music files) -by Jimmy Wales in 2001 (a collaborative encyclopedia edited by the whole Internet community) “dot.com” A new economy appeared in the USA , the "net" economy, whose drivers were the "dot.com" companies. By 1999, the US had 250 billionaires, and thousands of new millionaires were created every year by a jovial stock market. By 2000 e-mail had become universal, replacing traditional ("snail") mail and even telephones as the main medium of long-distance communication. Novels and films speculated on the ideas of "cyberspace" and "virtual reality" (a computer simulation of real life in cyberspace). Internationally, the security of the USA was no longer threatened by major powers but by a small group of terrorists: Al Qaeda, led by an Islamic fanatic from Saudi Arabia , Osama bin Laden, from his base in Afghanistan . In 1993 they attempted to blow up New York 's World Trade Center with a car bomb in the parking lot below the North tower. They failed to knock down the towers but they did kill six people and injured thousands. In 1998 they bombed two USA embassies in Africa , killing scores of people. The economic boom ended soon, and with a bang. In April 2000 the stock market for high-technology companies crashed, wiping out trillions of dollars of wealth. The mood turned to gloom when, at the end of the decade, George W. Bush of the Republican Party became president on a technicality, beginning one of the most divisive presidencies of all times.
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Hanging Chads Thus the world, and in particular the USA , went through one of the most breathtaking decades in memory.
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