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Economic problems in Europe prompted the failure of Jay Cooke & Company, the largest bank in the United States, which burst the post-Civil War speculative bubble. The Coinage Act of 1873 also contributed by immediately depressing the price of silver, which hurt North American mining interests. [ 22 ]
Americans across the political spectrum can agree on this: Rent is expensive, and buying a home can feel nearly impossible. America’s housing affordability crisis has a number of origins, but it ...
The U.S. economy is heavily dependent on road transport for moving people and goods. Personal transportation is dominated by automobiles, which operate on a network of four million miles (6.4 million km) of public roads, [ 339] including one of the world's longest highway systems at 57,000 miles (91,700 km). [ 340]
Source: Bureau of Economic Analysis. The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high ...
Long Term Economic Growth – 1860–1965: A Statistical Compendium. Business Booms and Depressions since 1775, a chart of the past trend of price inflation, federal debt, business, national income, stocks and bond yields for the United States from 1775 to 1943. Budget of the United States Government.
The economy returned to 1980s level growth by 1993, fueled by the desktop computer productivity boom, low interest rates, low energy prices, and a resurgent housing market. Strong growth resumed and lasted through the year 2000. Although relatively mild, the early 1990s recession was the only interruption to economic expansion during the 1990s.
Panic of 1837. The Panic of 1837 was a financial crisis in the United States that began a major depression (not to be confused with the Great Depression ), which lasted until the mid-1840s. Profits, prices, and wages dropped, westward expansion was stalled, unemployment rose, and pessimism abounded. The panic had both domestic and foreign origins.
In the United States, the Great Depression began with the Wall Street Crash of October 1929 and then spread worldwide. The nadir came in 1931–1933, and recovery came in 1940. The stock market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic ...
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