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North Korean forces invade South Korea through the DMZ. South Korea being majorly assisted by the United States requires assistance. United States steps in to help provide military assistance.
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Inflation Rate = 1.3%
Nominal Household Income = $4,000
Inflation Adjusted Household Income = $24,000
GDP = $2.27 Trillion
Unemployment Rate = 6.5%
30 Year Mortgage Rate = 4.7% -
At the War Memorial Opera House in San Francisco 48 nations met to sign a document formally declaring the official end of World War II. It declared Japan's position as an imperial power over, said Japan was to provide compensation to Allied civilians and former Prisoners of War, and to end Allied occupation of Japanese territory.
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Inflation Rate = 7.9%
Nominal Household Income = $4,100
Inflation Adjusted Household Income = $24,500
GDP = $2.40 Trillion
Unemployment Rate = 3.7%
30 Year Mortgage Rate = 4.9% -
In the midst of the Cold War and the Nuclear Arms Race with the USSR, the United States developed and tested the first thermonuclear bomb, better known as a hydrogen bomb, in the Eniwetok atoll in the Pacific. This bomb proved 1,000 times more powerful than ordinary nuclear arms, and gave the United States a very short lived advantage in the Arms Race. This event set forward the development of more efficient nuclear weaponry very rapidly.
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Inflation Rate = 1.9%
Nominal Household Income = $4,250
Inflation Adjusted Household Income = $25,000
GDP = $2.53 Trillion
Unemployment Rate = 3.2%
30 Year Mortgage Rate = 4.95% -
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Inflation Rate = 0.8%
Nominal Household Income = $4,400
Inflation Adjusted Household Income = $25,750
GDP = $2.54 Trillion
Unemployment Rate = 2.9%
30 Year Mortgage Rate = 5% -
The Supreme Court unanimously rules that racial segregation in any school system is unjustified. This allows all schools to integrate other races into previously "White Only" education systems. This of course introduces a lot of issues, but ultimatley is a large step forward in racial tension in the United States.
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Inflation Rate = 0.7%
Nominal Household Income = $4,600
Inflation Adjusted Household Income = $26,800
GDP = $2.61 Trillion
Unemployment Rate = 4.9%
30 Year Mortgage Rate = 5.1% -
Rosa Parks refuses to move from her seat for a White Man, breaking the Alabama segregated seating law. This also sets in motion of the boycott that Martin Luther King Jr. lead for 381 days. Blacks refused to use the bus system, causing a large deficit in money coming through the Public Transportation system.
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Inflation Rate = -0.4%
Nominal Household Income = $4,750
Inflation Adjusted Household Income = $27,500
GDP = $2.78 Trillion
Unemployment Rate = 4.9%
30 Year Mortgage Rate = 5.2% -
United States tests the first aerial hydrogen bomb over Namu Islet, Bikini Atoll with the force of 10 million tons TNT. This opens up a whole new field for the ongoing Arms Race between the United States and the Soviet Union. The U.S. spending a lot money on their nuclear and military programs, really increasing the tension with the Cold War.
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Inflation Rate = 4.5%
Nominal Household Income = $4,900
Inflation Adjusted Household Income = $28,400
GDP = $2.84 Trillion
Unemployment Rate = 4%
30 Year Mortgage Rate = 5.3% -
Eisenhower Doctrine calls for aid to Mideast countries that resist armed aggression from Communist-controlled nations. This is a large step forward in the Cold War as the United States and other nations aim to rid the world of Communism. A lot of monetary aid and military support being sent over to certain countries, costing the United States a lot of money.
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Inflation Rate = 3.3%
Nominal Household Income = $5,00
Inflation Adjusted Household Income = $29,800
GDP = $2.85 Trillion
Unemployment Rate = 4.2%
30 Year Mortgage Rate = 5.35% -
The United States Army launches rocket Jupiter-C in order to land a satellite into orbit. This will be the first United States satellite in orbit, named Explorer I. This, like usual, increases the Space Race between the U.S. and U.S.S.R., continuously increasing the amount of money the United States government spends on NASA and their space program to outdo the Russians.
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Inflation Rate = 2.8%
Nominal Household Income = $5,100
Inflation Adjusted Household Income = $31,200
GDP = $2.92 Trillion
Unemployment Rate = 5.8%
30 Year Mortgage Rate = 5.7% -
The United States integrated Alaska as the 49th state on Janurary 3rd, 1959, and Hawaii as the 50th state on August 21st, 1959. This significantly increases the land mass of the United States, and also increases the population. Allows for more of an income of certain things due to supplies native to the two states. Increases nervousness due to Alaska's proximity to Russia.
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Inflation Rate = 0.7%
Nominal Household Income = $5,250
Inflation Adjusted Household Income = $32,000
GDP = $3.06 Trillion
Unemployment Rate = 6%
30 Year Mortgage Rate = 5.85%
