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The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
One of the biggest adjustments was the re-entry of soldiers into the civilian labor force. In 1918, the Armed Forces employed 2.9 million people. This fell to 1.5 million in 1919 and 380,000 by 1920. The effects on the labor market were most striking in 1920, when the civilian labor force increased by 1.6 million people, or 4.1%, in a single year.
Common Stocks As Long Term Investments, originally published 1924, reprinted (2003) by Kessinger Publishing, ISBN 0-7661-6073-4; Tides in the Affairs of Men. An Approach to the Appraisal of Economic Change, originally published 1940, reprinted (1989) by Fraser Publishing, ISBN 0-87034-090-5 (In this book, he sought to establish a connection between economic booms/busts and changes in the weather.)
In a move to protect the broader economy from the over-inflated stock market, the Fed began raising interest rates in 1999, culminating in a market crash and a string of high-profile bankruptcies beginning the following year. Nov 2001– Dec 2007 73 +0.9% +2.8%: Another mild recession occurred in 2001, followed by moderate expansion.
Panic of 1819, a U.S. recession with bank failures; culmination of U.S.'s first boom-to-bust economic cycle; Panic of 1825, a pervasive British recession in which many banks failed, nearly including the Bank of England; Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression
Most analysts believe the market in 1928–29 was a "bubble" with prices far higher than justified by fundamentals. Economists agree that somehow it shared some blame, but how much no one has estimated. Milton Friedman concluded, "I don't doubt for a moment that the collapse of the stock market in 1929 played a role in the initial recession". [77]
The 1920s (pronounced "nineteen-twenties" often shortened to the "' 20s" or the "Twenties") was a decade that began on January 1, 1920, and ended on December 31, 1929. . Primarily known for the economic boom that occurred in the Western World following the end of World War I (1914–1918), the decade is frequently referred to as the "Roaring Twenties" or the "Jazz Age" in America and Western ...
Hans Sennholz argued that most boom and busts that plagued the American economy, such as those in 1819–20, 1839–1843, 1857–1860, 1873–1878, 1893–1897, and 1920–21, were generated by government creating a boom through easy money and credit, which was soon followed by the inevitable bust.