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Period: to
1920's
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Depression of 1920-1921
A recession at the beginning of the decade with a high amount of deflation in the value of products. The amount of production also went down in America and other parts of the world. -
The Stock Market began a 6-year bull run
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Ford exceeds $1 Billion
The market capitalization or value of Ford increased to over $1 billion. This creates more jobs and revenue for American factories and producers. -
Stock Market Crash of 1929
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Period: to
1930's
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Contracting the Hoover Dam
Contractors were allowed to begin working on the Hoover Dam. This provided electricity to all across the country and supplied thousands of jobs for Americans. -
Franklin D. Roosevelt was elected
Franklin D. Roosevelt was elected and he promised to create federal government programs to end the Great Depression. Within 100 days, he signed the New Deal into law, creating 42 new agencies throughout it's lifetime. -
World War II
WW2 began and this war helped America get out of the Great Depression. -
Period: to
1940's
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America's response to World War II
America's response to World War II was the most extraordinary mobilization of an idle economy in the history of the world. During the war 17 million new civilian jobs were created, industrial productivity increased by 96 percent, and corporate profits after taxes doubled. -
Japanese Attack Pearl Harbor
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The Revenue Act of 1942
The 1942 Revenue Act imposed the highest income tax rates in American history. The highest earners paid a 91% tax on some of their income. Companies paid up to 40% of their gross profits in corporation taxes. Most significantly, however, more Americans were paying taxes than ever before. The number of taxpayers rose from 39 million in 1939 to 42.6 million in 1945. A new system for collecting taxes was put in place. -
Unemployment, Wages, & Economy
By 1946, unemployment was low, wages were at record levels, and the economy was booming. -
Period: to
1950's
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The Golden Era
1950-1959 is known as the golden era with some of the greatest economic prosperity in the history of the United States -
Civil Rights Movement
The civil rights movement, though more of a civil event, represented a significant political and power change granting certain groups more freedoms and economic opportunity's -
Interstate highway system began construction
The interstate highway system began construction giving more freedom of movement for people around the country -
Period: to
1960's
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Eisenhower warned start of military-industrial complex
Eisenhower warned about the start of the military-industrial complex and the setting up of a permanent arms industry -
1964-1965
The great society program and other anti-poverty reducing initiatives would take root but would be sidelined by the Vietnam war -
Government tax revenues
Government tax revenues grew by 65% from 1965 to 1970 -
Period: to
1970's
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Unemployment
The federal government announces that unemployment has risen to 5.8 percent. In response, officials reduce interest rates. -
$25-billion tax cut
President Richard M. Nixon signs a $25-billion tax cut -
1973 Oil Crisis
The 1973 oil crisis puts the United States in gridlock and causes economic damage throughout the developed world -
Withdrawal from War
Political pressure led to America's withdrawal from the war -
1980s Recession
Between 1980 and 1982 the U.S. economy experienced a deep recession. It is widely considered to have been the most severe recession since World War II. This economic downturn was triggered by tight monetary policy in an effort to fight mounting inflation. -
Period: to
1980's
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1982-1987 GNP surged
The GNP (Gross National Product) surged tremendously and added 13 million jobs from -
Economic Recession
During the 1990s there wasnt much economic success. To begin the decade three was an economic recession that spanned from July 1990 to March 1991 about 8 months. This event was partially field by Iraq invading Kuwait causing an oil shortage and attempts from the Fed to lower the interest rates. -
Period: to
1990's
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Iraq invades Kuwait
The subsequent war between the U.S. and Iraq leads to higher oil prices, reduced consumption, and declining demand -
A Sign of Relief
In 1995 there was a sign of relief. The stock market began breaking record highs creating the best days in history for the NYSE. Fearing a mass sell-off, brokers switched their equities into government bonds for safety. -
Period: to
2000's
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9/11 Terrorist Attacks
The 9/11 terrorist attacks helped shape other financial events of the decade and after it, our economic climate was never the same as it caused a catastrophic financial loss for the U.S.
It was only the third time in history that the New York Stock Exchange was shut down for a period of time.
Besides the tragic human loss of that day, the economic loss cannot be truly known.
Because of this, the Department of Homeland Security was created. -
Stock Market Crash of 2002
After a brief slide post 9/11, the stock market rallied but began to slide again in March 2002. The market reached lows not seen since 1997 and 1998 by July and September of 2002.
The corporate fraud scandals, such as Enron, along with 9/11, were contributors to this loss of investor confidence in the stock market. -
Stock Market Crash of 2008
In September of 2008 several factors came together causing the deepest economic downturn since the Great Depression.
The great investment banks that had stood on Wall Street began to collapse due to the sub-prime mortgage crisis and serious corporate fraud.
By the time the Obama Administration reached the White House in January of 2009, the economy had contracted and the recession had taken hold. At the end of 2009, there were signs of recovery, but it wasn't quick. -
Unemployment: January 2010- January 2020
The unemployment rate dropped from 9.8% to 3.2% (6.6% change) -
Economy in 2010
The world economy continued to improve in the first half of 2010, leading to a slight upward revision in the United Nations' outlook for global growth. -
Period: to
2010-2022
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Economy in 2015
In 2015 the U.S. economy was so slow that several historically-reliable indicators of an imminent recession were waiving red flags. -
Corona Virus Pandemic
The Covid-19 pandemic caused a whopping 14.7% unemployment rate