@H2O MAN,
I know you're ignorant, but repeating falsehoods only makes you look that much more idiotic.
THE GREAT DEPRESSION:
1932 This and the next year are the worst years of the Great Depression. For 1932, GNP falls a record 13.4 percent; unemployment rises to 23.6 percent.
1938 The Supreme Court declares the National Labor Relations Board to be unconstitutional.
1939 The United States will begin emerging from the Depression as it borrows and spends $1 billion to build its armed forces. From 1939 to 1941, when the Japanese attack Pearl Harbor, U.S. manufacturing will have shot up a phenomenal 50 percent!
The Depression is ending worldwide as nations prepare for the coming hostilities.
Roosevelt began relatively modest deficit spending that arrested the slide of the economy and resulted in some astonishing growth numbers. (Roosevelt's average growth of 5.2 percent during the Great Depression is even higher than Reagan's 3.7 percent growth during his so-called 'Seven Fat Years!') When 1936 saw a phenomenal record of 14 percent growth, Roosevelt eased back on the deficit spending, worried about balancing the budget. But this only caused the economy to slip back into a recession in 1938.
World War II starts with Hitler's invasion of Poland.
1945 Although the war is the largest tragedy in human history, the United States emerges as the world's only economic superpower. Deficit spending has resulted in a national debt 123 percent the size of the GDP. By contrast, in 1994, the $4.7 trillion national debt will be only 70 percent of the GDP!
The top tax rate is 91 percent. It will stay at least 88 percent until 1963, when it is lowered to 70 percent. During this time, America will experience the greatest economic boom it had ever known until that time.
THE GREAT RECESSION:
From Wiki:
The late-2000s financial crisis, also known as the Global Financial Crisis (GFC) or the "Great Recession," is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s.[1] It resulted in the collapse of large financial institutions, the bailout of banks by national governments and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in numerous evictions, foreclosures and prolonged unemployment. It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, and a significant decline in economic activity, leading to a severe global economic recession in 2008.[2]
The financial crisis was triggered by a complex interplay of valuation and liquidity problems in the United States banking system in 2008.[3][4]
My note: FYI: GW Bush was president when this occurred. Subprime lending happened during GW Bush's tenure as president.
U.S. subprime lending expanded dramatically 2004-2006
Great Recession (December 2008 to December 2009)
(Wikilinks marked thus * are to statistical tabulations))
Recessions develop in early 2009 in most advanced economies, with negative growth rates* of 3 to 5 per cent among the G7 countries (and of over 14 per cent in thethe Baltic countries) and unemployment rates* of 10 per cent in the United States and France.
There are falls in world trade* of over 12 percent.
Recession-induced budget deficits raise public debt* to an average of 100 per cent of GDP in the G20 countries..
Recovery (from January 2010 to August 2011)
April 2010 Greece's credit rating is downgraded to BB+ by S&P[13]
Spain's credit rating is downgraded from AA+ to AA by S&P[14]
Portugal's credit rating is downgraded from A+ to A- by S&P[15].
May 2010 The eurozone governments and the IMF make available €110 billion to Greece[16]
The eurozone launches the €600bn European Financial Stability Facility[17]
The European Central Bank launches its Securities Markets Programme [18]
November 2010 Agreement is reached on an EU/IMF Ireland rescue package[19].
December 2010 The European Central Bank buys Portuguese and Irish bonds[20] [21]
January 2011 The first bond issue by the European Financial Stability Facility[22]
March 2011 A Japanese earthquake and tsunami kills over 9000 people and causes damage estimated to be over $300bn[23].
April 2011 The European Central Bank raises its discount rate from 1.0 per cent to 1.25 per cent
15th[24]
July 2011 The European Central Bank raises its discount rate from 1.25 per cent to 1.5
http://www.ecb.int/press/pr/date/2011/html/pr110707.en.html].
Greece to get 109 billion euro EZ loan[25] in addition to which the private sector is to make a contribution through an agreement to either swap or roll-over their debt
August 2011 After prolonged inter-party negotiations, the US Congress agrees to raise the Federal debt ceiling and reduce government spending[27] [28].
The Standard and Poor credit rating agency downgrades US bonds from AAA to AA+[29]
My Note: The Tea Party/GOP were responsible for this downgrade.
.
January 2012: US stock market advances from FORBES:
Strong January, Strong 2012?
Kevin Mahn, Contributor
+ Comment now
The S&P 500 index posted a total return of 4.48% for the month of January.
This marked the best performance for the U.S. stock market in the month of January in more than a decade.