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After World War I ended, federal debt was reduced by about 1/3 and there was rapid growth industrially. The United States was living in complete prosperity with a great overall standard of living.
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Black Thursday: Known as the biggest stock market crash in US history and triggered the Great Depression.
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FDR's proposal to rid of all of the bad effects of the Great Depression. The banking act was a part of it and bettered the nations banking system which lead to a state of recovery.
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Government spending for World War II leads to economic boom and saves our country from the 12 year depression. During this time period, the GDP rose throughout the United States.
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The stock market was failing and the unemployment rates were rising. Easy money policies were created by the bank which were made to increase employment rates, but also lead to high inflation.
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The unemployment rate was very high nd was increasing very rapidly and the GDP was decreasing by about 6.8%. The inflation rate was also increasing as well.
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After the Great Recession beginning in 2009, our economy is slowly attempting to dig ourselves out. The GDP is increasing at a rate of about 4.2% annually. Additionally the average annual income has been increasing by about 2.3% percent.
