1998 History

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1998 After many years of troubles in Northern Ireland both sides agree to the Good Friday peace agreement. The US President Bill Clinton denies he had "sexual relations" with former White House intern Monica Lewinsky. The Soviet Union Banking system suffers a meltdown when the Rouble lost 70% of its value against US dollar in 6 months with several of the largest Russians banks collapsing. U.N.I.C.E.F. reports there are approximately 250 million child laborers worldwide.

Cost of Living 1998

How Much things cost in 1998
Yearly Inflation Rate USA 1.55%
Year End Close Dow Jones Industrial Average 9181
Interest Rates Year End Federal Reserve 8.25%
Average Cost of new house $129,300.00
Average Income per year $38,100.00
Average Monthly Rent $619.00
Cost of a gallon of Gas $1.15
Average cost of new car $17,200.00
US Postage Stamp 32 cents
1 LB of Bacon $2.53
1 LB Hamburger meat $1.40
Loaf of Bread $1.26
Dozen Eggs 88 cents

What Events Happened in 1998

  • Financial Crisis hits much of South East Asia
  • Worlds biggest airport in the world opens in Hong Kong
  • Terrorist Bombing attacks at two US Embassies in Nairobi and Dar es Salaam killing 250 people
  • Good Friday peace agreement in Northern Ireland
  • Bill Clinton denies he had "sexual relations" with former White House intern Monica Lewinsky. Starting the Lewinsky scandal and investigations
  • An earthquake measuring 6.1 on the Richter Scale in northeast Afghanistan kills more than 5,000.
  • A 5.9 Earthquake strikes the Azores killing at least 10 with many more still missing in the rubble
  • Official famine Southern Sudan declared with estimates that over 1 million people could die from starvation
  • James Byrd Jr, a 49-year-old African-American man is dragged to his death behind a pickup truck
  • 66-day blackout begins in Auckland, New Zealand.
  • Tornadoes in central Florida destroy or damage 2,600 structures and kill 42
  • Forest Fires in Florida force 120,000 to flee their homes
  • Osama bin Laden publishes fatwa declaring jihad against all Jews and Crusaders.
  • The Belfast Agreement is signed between the Irish and British governments and most Northern Ireland political parties ending many years of terrorist activity in Northern Ireland and mainland Britain
  • The splinter terrorist organization"The Real IRA" plant massive car bomb in Omagh, Northern Ireland killing 27
  • A tsunami triggered by an undersea earthquake destroys 10 villages in Papua New Guinea killing an estimated 1,500.
  • In China the Yangtze River breaks through the main bank. The death toll was more than 12,000 injuring many thousands more.
  • Devaluation of the rouble. The ruble lost 70% of its value against US dollar in 6 months . Several of the largest Russians banks collapsed, and millions of people lost their savings.
  • IMF offers $22bn loan to Russia to stabilize economy with strict conditions
  • Hurricane Mitch makes landfall in Central America killing an estimated 18,000 people
  • The Japanese economy enters a recession due to the collapse of land and property prices
  • The Japanese government implements a rescue package for Japanese banks following the collapse of the property market and $500bn in bad debts
  • Islamic extremists attack two villages in Algeria and massacre 400 local villagers
  • Europeans agree on a single currency the Euro
  • President Bill Clinton Impeached for perjury and obstruction of justice.
  • Tobacco Master Settlement Agreement (MSA) is signed between Tobacco Companies and US States becoming the largest civil settlement in United States history,
  • Two boys Mitchell Johnson ( 13 yrs old ) and Andrew Golden ( 11 Years Old ) shoot and kill four fellow students in Jonesboro, Arkansas.
  • The European Central Bank is Established in Frankfurt Germany
  • U.N.I.C.E.F. reports over 130 million children worldwide do not attend school and their is approximately 250 million child laborers worldwide
  • The two oil companies Exxon and Mobil merge to create the worlds largest petroleum company
  • Low Flying US Military jet severs the cable of a ski lift in Italy and 20 people plunge to their death
  • Israel celebrates it's 50th Anniversary of it's founding
  • Serbian troops in Yugoslavia target villages occupied by ethnic Albanians in Kosova
  • An oil pipeline running through a village in Nigeria, explodes killing 700 people with the resulting fire burning for nearly a week.
  • The Worlds Longest Suspension Bridge ( as of 2007 ) in Akashi, Japan is Completed
  • Iraq prevents UN weapons inspectors from conducting a search and President Bill Clinton orders a series of air strikes against Iraq
  • BMW buys Rolls-Royce cars for $570 million
  • France Wins 1998 World Cup in France
  • The Winter Olympic Games are held in Nagano, Japan

Popular Culture 1998

  • The concert by the Three Tenors ( Jose Carreras, Placido Domingo and Luciano Pavarotti ) For the opening of the World Cup In France is seen by 100,000 live and 3 billion around the world.

Popular Films

  • Armageddon
  • Titanic
  • Saving Private Ryan
  • Godzilla
  • There's Something About Mary
  • A Bug's Life
  • Deep Impact
  • Mulan
  • Dr. Dolittle
  • Shakespeare in Love
  • Lethal Weapon 4
  • The Avengers
  • The Mask of Zorro
  • The Wedding Singer

Popular Musicians

  • All Saints
  • Céline Dion
  • Madonna
  • Chumbawamba
  • Jennifer Paige
  • Marilyn Manson
  • Green Day
  • Metallica
  • The Offspring
  • Spice Girls
  • Aerosmith
  • Alanis Morissette
  • Shania Twain
  • Natalie Imbruglia
  • Sublime
  • Janet Jackson

Popular Television

  • Law & Order
  • America's Funniest Home Videos
  • The Jerry Springer Show
  • Dateline NBC
  • Frasier
  • Late Night with Conan O'Brien
  • NYPD Blue
  • Star Trek: Deep Space Nine
  • The Late Show with David Letterman
  • The Nanny
  • The X-Files
  • ER
  • Friends
  • JAG
  • Star Trek: Voyager
  • The Drew Carey Show
  • 7th Heaven
  • Everybody Loves Raymond
  • Judge Judy
  • Buffy the Vampire Slayer
  • Dharma & Greg
  • King of the Hill
  • South Park
  • Stargate SG-1
  • The Practice
  • Simpson's

Technology 1998

  • Worlds first Digital Terrestrial Television Service launched in the UK
  • Windows 98 released by Microsoft
  • United States Department of Justice (DOJ) brings Anti-Trust Case against Microsoft Corp.
  • During 1998 with the technology maturing e-commerce started to take off as more and more companies decided to create a presence on the Internet with their own web sites.
  • The Search Engine Google is founded.
  • The Worlds largest suspension Bridge 1.234 miles in Japan opens
  • 19 European nations agree to forbid human cloning.
  • Data sent from the Galileo probe indicates that Jupiter's moon Europa has a liquid ocean under a thick crust of ice
  • The FDA approves Viagra for use as a treatment for male impotence, becoming the first pill to be approved to treat this condition in the United States.
  • Apple Computer unveils the iMac.
  • Danish Catamaran Cat Link V sets new record for fastest crossing of the north Atlantic Blue Ribband in 2 days 17.59 hours
  • India and Pakistan test nuclear weapons

Research for this year is provided by The People History.
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