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Black Thursday In 1931, the stock market crash ushered in the Great Depression.
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The Great Depression is considered to have started at the 1929 trough through the 1930s and 1940s.
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Wage income for workers who were lucky enough to have kept their jobs fell almost 43% between 1929 and 1933. It was the worst economic disaster in American history. Farm prices fell so drastically that many farmers lost their homes and land. Many went hungry.
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$1 in 1931 has the same buying power as 2017 $15.
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Consumer spending dropped dramatically.
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inflation rate was -10%
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GDP $.85 trillion GDP per capital around $6000
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The Hoover Dam's creation created hundreds of jobs and brought clean and abundant power to Arizona and the surrounding states.
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Inflation during 5 years resulted in a dollar from 1936 to be worth $1.02 in 1941.
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Interest rates during 1936 were at 2.65%. They fell to 1.95% at 1941.
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The New Deal stabilized the banks and cleaned up the financial mess left over from the Stock Market crash of 1929. It stabilized prices for industry and agriculture and aided bankrupt state and local governments.
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The war began in 1939 and boosted production significantly almost overnight. The unemployment rate dropped to about 10% as many Americans gained jobs making weaponry and supplies. And people bought war bonds what helped the economic growth.
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Unemployment levels got up to 15%.
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The export of US goods had increased by 300% from 1940-1944
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The US Gross National Product rose from86.5 billion to 135 billions from 1939-1945
