A period of economic depression that occurred between November 14th, 3128 CE and July 16th, 3137 CE. The Great Spiral is one of the two cases of a galactic economic depression. The other case would occur during the Great Panic, when the USEC descended into chaos and technophobia.
The main cause of the Great Spiral was the Aurora-Badenbad Treaty, abd the extensive powers it granted the USEC. After the Inter-Colony War, the USEC embarked on a massive period of colonization to secure its funding and power-base. These colonies would eventually produce large amounts of raw materials, which the USEC planned to use themselves. In October 24th, 3128 CE the Gunthal-Rubenact Leak occurred, leaking several important internal USEC documents. Among those documents were those detailing the projected production of raw materials from the colonies of the USEC. This document caused a lost of confindence in corperations like Milwakee Mining Operations and Xang Farmers United, leading to bankruptcy. The amount of raw materials that were reaching open market declined sharply, as mines and farms shut down. The USEC was still setting up its colonies, and thus could not return market equilibrum as they could not supply all of the raw resources needed. Faced with loses occurred during the Inter-Colony War and the raising costs of raw materials, many companies went bankrupt, leaving billions poor and jobless in the beginnings of the Great Spiral.
Colonization during the Great SpiralEdit
The USEC was relatively untouched by the Great Spiral, as they rapidly became the sole producer of raw materials in the Milky Way. The USEC used its new-found wealth in two ways. First, they purchused industrical equipment at rock-bottom prices, allowing them to set up factory stations to produce items that they couldn't purchuse. Additionally, the USEC colonized hundreds of planets. Millions were eager to create new lives on distant worlds and escape poverty. With the men and resources, the USEC easily funded waves after waves of colonists.
End of the Great SpiralEdit
By July 16th, 3137 CE the galactic economy had recovered enough for the Great Spiral to end. The rapid colonization undertaken by the USEC contributed greatly to this economic recoverly. Planets colonized early during the Great Spiral rapidly gained their independance under the USEC Founding Document, and branched out into manufacturing and service industries. However, while the colonies were economically booming, the planets that fought the Inter-Colony War were still in a depression, which would only grow worse as jobs and able-bodied people emigrated to the colonies. Of the orginal planets who fought in the war, the last one struggled out of its depression on December 5th, 3152 CE.
The legacy of the Great Spiral would be the hundreds of planets colonized during it. These planets would undergo a massive baby boom, affecting their politics for three generations and fueling another round of colonization by theUSEC. The USEC would profit immensely during the Great Spiral, building a reputation for economic sense and individual well-being that would last until the Age of Corporations. Additionally the USEC established its industrical base that would serve it well in the coming centuries. Finally, the Great Spiral broke the dominance of the CCC and PGVK in galactic affairs, as their respective member planets struggled under the weight of a crippling depression.