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Double Dip Recession
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<blockquote data-quote="Babagounj" data-source="post: 749654" data-attributes="member: 12952"><p>The 1920–1921 depression was painful lasting 18 months. The unemployment rate peaked at 11.7 percent in 1921. But it had dropped to 6.7 percent by the following year, and was down to 2.4 percent by 1923. After the depression the United States proceeded to enjoy the “Roaring Twenties,” arguably the most prosperous decade in the country’s history. The 1920–1921 depression “purged the rottenness out of the system” and provided a solid framework for sustainable growth.</p><p>Other recessions; 1910-1912 lasting 24 months, 1913-1914 lasting 23 months, The Great Depression lasting 43 months.</p><p></p><p><em>Source: Chart of the Day (using data from the National Bureau of Economic Research)</em></p></blockquote><p></p>
[QUOTE="Babagounj, post: 749654, member: 12952"] The 1920–1921 depression was painful lasting 18 months. The unemployment rate peaked at 11.7 percent in 1921. But it had dropped to 6.7 percent by the following year, and was down to 2.4 percent by 1923. After the depression the United States proceeded to enjoy the “Roaring Twenties,” arguably the most prosperous decade in the country’s history. The 1920–1921 depression “purged the rottenness out of the system” and provided a solid framework for sustainable growth. Other recessions; 1910-1912 lasting 24 months, 1913-1914 lasting 23 months, The Great Depression lasting 43 months. [I]Source: Chart of the Day (using data from the National Bureau of Economic Research)[/I] [/QUOTE]
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