Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: sammaster who wrote (74295)	3/1/2001 11:55:10 PM
From: pater tenebrarum	Read Replies (1) of 436258

it fluctuated...you can basically say the depression lasted for more than a decade. there WAS a brief upswing in 35-37, but that was aborted again. the dollar value of industrial output regained the level of '29 only by '41. '37 was the only year from '30-'40 in which the number of the unemployed briefly dropped below 8 million...the record high was about 13 million in '33, or 25% of the labor force. in '38 it was still about 20% of the labor force that remained unemployed. it was real bad in other words. interestingly, the absolute low in steel output was announced in the same week the Dow made its final low in July '32...only 12% of steel production capacity wasn't idle. a funny (sort of) problem bedeviled the Hoover administration btw: every time he made an optimistic comment in public about the future of the economy, the stock market immediately dropped. at one point his advisors believed it must be a conspiracy to discredit Hoover. another aside, the curb market, the predecessor of Nasdaq/Amex, saw most of the stocks that were traded there go to zero, or fractions. it was for all intents and purposes dead.

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