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Roaring Twenties: Prosperity
This period of prosperity happened right before the Great Depression. The automobile industry was booming as well as oil, glass and road building. Productivity growth was great and people were spending money. -
Great Depression
In 1929, the stock market crashed and banks closed. Many people lost their life savings, starting the Great Depression for the next number of years. -
Roosevelt Recession
The U.S. was in a slow economic recession after The New Deal program suffers and unemployment rises. -
Recovery
Once world war ll ended, the industry starting coming together. The unemployment rate started falling and people were getting jobs. Banks were opening once again. -
Recession
During the early 1970's, $200 million in war bonds matured. GDP and productivity swelled as the work force decreased. There was a big oil crisis in 1973 and the stock market fell once again from 1973-1974. -
Economic Prosperity
During the 1990's, the GDP incresed for ten striaght years. The rapid growth of technology during this time period help the stock market excel and productivity rise. Because of this, there was also a steady increase in job growth. Job growth and productivity affect the cycle of the stock market. -
Great Recession
Housing prices and the constrution industry was falling. Millions of mortages had been bundled into securities that the banks had bought, but now no one wanted them. Some banks went bankrupt and the stock market fell 40%. -
Current Recovery
Six years later, the United States is currently still recovering from the recession of 2008. Although times are much better, we are not at the same standings we once were. The economic growth is still rising, and the unemployment rate is falling. The government gave banks stress tests to reveal their financial strength. With that, banks have becom more reliable since the recession.
