Comparing the Great Depression to the Great Recession

836 Words2 Pages
bulb-icon

Recommended: The great depression v recession 2008

Comparing the Great Depression to the Great Recession The Great Depression and the Great Recession of the early 21st Century have many things in common. The Great Depression and the Great Recession both experienced good economic times before they crashed. Prior to the Great Depression, (1921-1929) the annual real economic growth was at 4.4 percent. Though less, the annual real economic growth prior to the Great Recession was at 3.2 percent. The banks before both times moved into new business lines. In the 1920s banks increased real estate lending and also increased investment banking. Prior to the Great Recession, (1990s-2000s) banks increased real estate lending and the securitization of mortgages. In both times, they were preceded by the innovations in consumer finances of their times. Prior to the Great Depression, (1920s) installment in consumer credit became more popular this included monthly payments. In the 2000’s prior to the recession, banks increased real estate lending and the securitization of mortgages. Pre Great Depression and the Great Recession they were asset bubbles in both real estate and tech-stock market. During the 1920s there was a surge in the Florida real estate as well as the stock market. The time during the 1990s and 2000s were a little different because of the fact that the tech stock market also took off and that the residential real estate grew. Prior to both times the Federal Reserve was highly thought of. In both the great Depression and the Great Recession the Presidents of those times increased spending to try to get the country out of the impending recession. Both Obama and Roosevelt increased the taxes in their presidency but as shown in the Great Depression high taxes are fol... ... middle of paper ... ...://www.britannica.com/EBchecked/topic/9551/Agricultural-Adjustment-Administration-AAA>. "American President:." Miller Cente. miller cente, n.d. Web. 16 Mar. 2014. . "Economic Analysis of the Car Allowance Rebate System." White House. White House, n.d. Web. 16 Mar. 2014. . "The Federal Housing Administration." Hud.gov. hud.gov, n.d. Web. 16 Mar. 2014. . Geewax, Marilyn. "Economy." NPR. NPR, 11 July 2012. Web. 13 Mar. 2014. . "Home Owners Loan Corporation." Next New Deal. Roosevelt Institute, 2014. Web. 16 Mar. 2014. .

Show More
Related

  • Roosevelt Vs Hoover Essay

    741 Words  | 2 Pages

    ...ession. Among many spending proposals Hoover proposed one that was notable was The Revenue Act of 1932. This increased personal income taxes noticeably, but also brought back a multiplicity of taxes that had been used during World War I.

    Read More

  • The New Deal Dbq Analysis

    740 Words  | 2 Pages

    In 1929, the stock market crashed, bringing great ruin to our country. The result, the Great Depression, was a time of hardship for everyone around the world. The economy in the US was lower than ever and people were suffering immensely. During these trying times, two presidents served- Herbert Hoover and Franklin Delano Roosevelt (F.D.R.) Both had different views on how the depression should be handled, with Hoover believing that the people could solve the issue themselves with no government involvement, and with F.D.R. believing that the government should work for their people in such difficult times.

    Read More

  • Are the Kids Truly All Right? by by Liz and Diana Welch

    1564 Words  | 4 Pages

    Weavertheme, a new book, 2014. Web. The Web. The Web. 09 Mar. 2014. The 'Standard' of the 'Standard'.

    Read More

  • The Benefits of FFA Membership

    3621 Words  | 8 Pages

    Sheshadri, T. (2001, December 26). Student recognized for agricultural acumen. The San Diego Union Tribune, N1-4. Retrieved on March 20, 2002 from Lexis-Nexis Academic Universe (Newspapers) on the World Wide Web: http://www.lexisnexis.com/universe.htm.

    Read More

  • Comparing the Reaction of Franklin D. Roosevelt and Herbert Hoover to the Great Depression

    815 Words  | 2 Pages

    The year was 1929. America goes through the biggest national crisis since the American Civil War. They called it the Great Depression. The Stock Market was going down, unemployment was going up, and money was becoming scarce. The United States had to look up to the one person who could lead the country out of this national catastrophe, The President. At this time the man who had that title was none other than Herbert Hoover. Hoover, A republican, hoped that this was all a nightmare, he hoped that the Depression was a small fluke that would fix itself after a short period of time. After seeing that the Depression was getting worse had to use federal relief efforts. At the end of his term a democrat, Franklin Roosevelt, took his place and tried to fulfill his campaign promises by getting the country out of the Depression.

    Read More

  • Great Depression vs. The Great Recession

    1439 Words  | 3 Pages

    Since being founded, America became a capitalist society. Being a capitalist society obtains luxurious benefits and rather harsh consequences if gone bad. In a capitalist society people must buy products and spend money to keep the economy balanced, but once those people stop spending money, the economy goes off balance and the nation enters a recession. Once a recession drastically takes a downturn, the nation enters what is known as a depression. In 2008 America entered a recession and its consequences were severe enough for some people, such as President Barack Obama, to compare the recent crisis to the world’s darkest economic depression in history, the Great Depression. Although the Great Depression and the Great Recession of 2008 hold similarities and differences between the stock market and government spending, political issues, lifestyle changes, and wealth distribution, the Great Depression proved far more detrimental consequences than the Recession.

    Read More

  • Quentin Tarantino's Inglorious Bastards

    1187 Words  | 3 Pages

    The Web. The Web. 21 Apr. 2014. The 'Standard' of the 'Standard'. Siegel, Jason.

    Read More

  • Farm Bureau Leading the Challenge

    795 Words  | 2 Pages

    In 1919, farmers from thirty states, including Missouri, saw a need. They gathered in Chicago and formed the American Farm Bureau Federation. In 1919, they had one goal, they wanted to speak for themselves with the help of their own national organization. Since 1919, Farm Bureau has operated by a philosophy that states: “analyze the problem of farmers and develop a plan of action for these problems” (Missouri). In the past 94 years, the A...

    Read More

  • Great Depression Compare And Contrast Essay

    1412 Words  | 3 Pages

    The Great Depression was the worst period in the history of America’s economy. There is no way to overstate how tough this time was for the average worker and there was a feeling of desperation that hung over the entire country. Current political wisdom leading up to the Great Depression had been that the federal government does not get involved in business or the economy under any circumstances. Three Presidents in a row; Warren G. Harding, Calvin Coolidge, and Herbert Hoover, all were cut from the same cloth of enacting pro-business policies to generate a powerful economy. Because the economy was doing so well during the “Roaring 20s”, there wasn’t much of a dispute

    Read More

  • Pros and Cons of Genetic Testing

    1221 Words  | 3 Pages

    Web. The Web. The Web. 22 Mar. 2014. The 'Standard' of the 'Standard'. Kjono, Jason.

    Read More

  • George Orwell’s 1984 and Stalin’s Russia

    2134 Words  | 5 Pages

    The 'Standard' of the 'Standard'. Twayne's Masterwork Studies, 30. Gale Virtual Reference Library -. Web. The Web.

    Read More

  • The Relationship of The Wall Street Crash and The Great Depression

    975 Words  | 2 Pages

    allow them to produce a lot more but all this extra food went to waste

    Read More

  • Herbert Hoover And The Great Depression

    523 Words  | 2 Pages

    The role of the federal government greatly expanded into Americans' lives as a result of the Great Depression. Although Herbert Hoover did not do much to expand the federal government involvement with his ideas of volunteerism and localism, Franklin Roosevelt did with the first and second New Deals.

    Read More

  • Is Suicide the Solution?

    1534 Words  | 4 Pages

    The Web. 28 Apr. 2014. The 'Standard' of the 'Standard'. ejournals.library.ualberta.ca>. Ryn, Zdzislaw.

    Read More

  • Are We Too Dependent On Computers?

    1261 Words  | 3 Pages

    The Web. The Web. 24 Mar. 2014. The 'Standard' of the 'Standard'. Kennedy, Shirley.

    Read More

More about Comparing the Great Depression to the Great Recession

Open Document