Oh how I long for the days of old when US economy statistics painted a much rosier picture. The future looks so dim that I no longer wear shades. What follows is the path that this country has taken for better or for worse. You can see why it is a good idea to purchase gold and silver coins.
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US Economy Statistics
1890-1920
Leading up to the late 1800s government leaders were unwilling to allow the federal government into the private sector. Exceptions were made for transportation and maintaining law and order. Enter the labor movement. Labor took the side of farms and small businesses who cried for help in fighting the big bad wolf called big business. Granted, the business elite of the time didn’t make much of a case for themselves. However, many would say that the onerous rules and regulations that have been formed have led to our being ruled by the political elite. Considering the authority they have to combine with their elitism I am more concerned about the latter.
Known as Progressives a group of people entered the political scene regulating the railroads and businesses against having too much control. It all started with Theodore Roosevelt and Woodrow Wilson who created regulatory agencies to control interstate commerce and trade along with our food and drugs.
1920-1929
A decade of prosperity was led by the cutting of taxes and the increased growth of the automobile industry made the US economy statistics look stronger. This addition to the economy stimulated industries based around the automobile such as oil and glass. Roads were built with small and large cities alike benefiting from tourism. As the government is apt to do more road blocks were created that ultimately stifled the economy. Herbert Hoover, who was the Secretary of Commerce at the time, increased regulations on businesses. It can be argued that US economy statistics show that over regulation led to what we know as the Great Depression.
1929-1941
The Great Recession became the Great Depression through sins of commission and omission by, you guessed it, the government. Taxes were raised and laws were passed that led to protectionism. This is where trading is limited and our trading partners of Europe retaliated. Unemployment was 25% with blue collar industries being hit the hardest. It didn’t stop there. Government spent more and the deficit increased. While it can be argued that the economy grew unemployment never dipped below 9% before the war started. In 1933 Franklin Delano Roosevelt outlawed the ownership of gold.
1941-1945
The war brought us out of our funk for good. Jobs were created and even the automobile industry got involved by making tanks and aircraft. At the end of the war people moved from the inner cities to the suburbs. They initially moved to the cities from farms when land prices were high due to war.
1945-1973
This was a complicated time which saw high prosperity and population growth along with a strengthening of the building industry. Wages were higher which some contribute to labor unions. However, this period also included inflation, and stagflation. Richard Nixon experimented with wage and price controls and took our country off of the gold standard. US economy statistics show that this was the beginning of our going from the greatest creditor country to the debtor nation that we are today.
1976-1992
Under Jimmy Carter production was minimal if it existed at all. The prime rate of interest hit 20%. About this time in my life I felt like an economic guinea pig. The government acts like they know what they are doing but rarely do. After the energy crisis of 1979 inflation rose to double digits. This same year the Federal Reserve raised interest rates causing a severe recession for the first half of 1980. Under Ronald Reagan interest rates were increased again causing still another recession and increasing unemployment to 10.8%. Our defense was seen as lacking so spending increased and by the end of Reagan’s term unemployment fell below 6%. Marginal federal income tax rates were cut by 25% and inflation dropped from 13.5% to 3 % annually. George H. W. Bush raised taxes going back on a promise not to. He did so in good faith in accordance to promises made by the Democrats in Congress. Incidentally, those same Democrats reneged on their end of the bargain.
1992-Present
The 90s showed strong growth along with an increase of the national debt. The stock market rose 300% only to give it back by 2000. A recession began in 2001 and business failings increased with unemployment going up. Gold started rising from $300 an ounce in 2002. The housing market started it’s downslide in 2006. The worst recession since the Great Depression began in 2008 and the stock market started crashing that same year. In early 2009 the stock market started climbing again for a while. As of this writing, September 2, 2011, we are seeing a possibility of inflation within the next six months with the artificially low interest rates climbing to counteract. The US economy statistics are dismal at best which is why I am investing in gold and silver numismatic coins.
What will you do when the Dollar Crashes?
CLICK HERE TO CHANGE YOUR LIFE
US Economy Statistics
US Economy Statistics
Gold and silver numismatic coins are a great way to get over the shock caused by US economy statistics.