Great Depression Vs Great Recession Essay

Determining the most depressing. The Great Depression of the late 1920’s and early 1930’s and the Great Recession of 2007 – 2009 were both times of major loss in the economy of the United States. Whether it is the amount of money lost or the amount of jobs lost they are similar but yet different in a plethora of ways. The Great Recession began in December of 2007 and lasted until June of 2009. The causes of the Great Recession date back from the 1980’s ‘consumer age’, debt from the household income was the primary set-up for the recession, and large amounts of money being borrowed for houses (“Great Depression vs. Great Recession”). On the other hand, the Great Depression began on October 29, 1929 and ended in 1931. World War I, overproduction in …show more content…
It took over two decades, with several smaller recessions in between, to fully impact the economy. On the other hand, it took the Great Depression almost a decade to form (1918 – early 1930’s). Apart from overspending, both events invested in difficult categories. The Great Depression invested in the Stock Market, while the Great Recession (“Consumer Age”) invested in housing (“Great Depression vs. Great Recession”). The Great Depression’s consequences are somewhat like those of the Great Recession’s considering bank failures and unemployment but at a much devastating scale. When World War II ended, the Great Depression’s unemployment rate fell below ten percent. Franklin D. Roosevelt’s “New Deal” was programs and policies “meant” to improve conditions for the people’s suffering. The Great Recession’s federal reserve lowered interest rates in 2008 and later adopted the zero-interest rate policy. Tax rebates were mailed to middle and lower class households to promote spending. The federal Government spent 2.5 GDP in hopes of encouraging the economy (“Great Depression vs. Great