History of the United States (1980–1991) which the nations of the world, East and West, North and South, can prosper and live in harmony." Nationalist agitation in the Baltic States for independence led to first Lithuania and then the other two states, Estonia and Latvia, declaring independence from the Soviet Union. On December 26, 1991, the USSR was officially disbanded, breaking up into fifteen constituent parts. The Cold War was over, and the vacuum left by the collapse of governments such as in Yugoslavia and Somalia revealed or reopened other animosities concealed by decades of authoritarian rule. While there was a certain reluctance among the U.S.
History of the United States (1980–1991) late 1980s. When the 1990 oil price shock hit in mid-1990, consumer spending contracted and the economy entered recession. Unlike the early 1980s recession, the recession beginning in 1990 was relatively mild. Some of the hardest hit cities were in California and the Northeast, while much of the South was less affected. History of the United States (1980–1991) The history of the United States from 1980 until 1991 includes the last year of the Jimmy Carter presidency, eight years of the Ronald Reagan administration, and the first three years of the George H. W. Bush presidency, up to the collapse