The booming economy led in 1929 to a backlog of business inventories which was three times larger than the year before. As a result a recession began in August 1929, two months before the stock market crash. During this two month period, production declined at an annual rate of
20 percent. This decline resulted in the stock market crash which began October 24, followed by Black Tuesday on October 29. Losses for the month amounted to $16 billion, an astronomical sum in those days.
1932 and 1933 were the worst years of the Great Depression. Industrial stocks lost 80 percent of their value since 1930. 10,000 banks failed , or 40 percent of the 1929 total. GNP fell 31 percent since 1929 and over 13 million Americans lost their jobs between 1929 and 1932. In 1933 unemployment did rise to 24.9 percent.
The desperation of many people and especially veterans from WW I resulted in spectacular events, the most dramatic the so-called Bonus marches in 1932.
The world sorted by their gross domestic product per capita<span> at nominal values. This is the value of all final goods and services produced within a </span>nation<span> in a given year, converted at market exchange rates to current U.S. dollars, divided by the average (or mid-year) population for the same year.
I'm not sure if this is what your lookng for.</span>
Wide gaps between rich and poor is the answer.
With the surrender of both Germany and Japan in 1945, military contracts were terminated and soldiers returned home to compete with civilians for work. As government spending depleted, the economy fell into a deep recession and GDP shrank by a whopping 11 percent.
The private sector was booming when the government stopped buying ammunition and hiring soldiers. The factory that used to make bombs made toasters, and toaster sales surged. On paper, measured GDP declined after the war. In 1947 it was 13% lower than in 1944.
Gross National Product (GNP), which measures all goods and services produced, surged from just $ 200 billion in 1940 to $ 300 billion in 1950. By 1960, with over $ 500 billion, the United States was the wealthiest and wealthiest country. The nation has established the most powerful nation in the world
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General Douglas MacArthur was the Supreme Allied Commander in the Pacific during WW2. He graduated from the United States Military Academy or West Point. During the 50s he command all American Troops in the Korean Peninsula
until being relieved of his duties in 1951.
