2001 Recession

In 2001, after the longest period of economic development, the United States has entered the tenth recession since the end of World War II. The recession is plagued by the sudden decline in gross domestic product (GDP), at least half a year GDP. Specifically, in the event of a recession, the rise in the unemployment rate leads to a decline in consumer spending leading to poor performance. A survey by the National Bureau of Economic Research (NBER) concluded that in March of that year, the peak of business events declared the end of expansion and inevitable destructive arrival.

The Great Depression was the worst economic downturn since the Great Depression, the longest recession. The number of employees decreased by 6.3%. This was more than twice the economic recession in 1981, three times the recession in 2001 and four times the economic recession in 1990. In the early stages of recovery, approximately 11 million people were required to recover the unemployment rate to the level of the economic recession. According to the estimates of the Economic Policy Institute and the Brookings Institute, today's figures are still improving, but still 7 million people are still needed. Less than 40% of incomplete employment caused by the Great Depression has ended

The recession and the Great Depression in 2001 all became excessive investment after the decrease in business investment. Until the beginning of 2000 (2000), large expenditures on high-tech products increased rapidly, actual fixed commercial investment began to decline. However, compared to the Great Depression, the decline in industrial activity was not significant when industrial production decreased more than half. The financial sector also played an important role in these two periods. The economy and the stock market corresponded to the increase and decrease of economic activity in the latter half of the 1920s and the latter half of the 1990s. However, due to the current stock market downturn, Beebe does not believe that the economy is doomed like the economic difficulties that have continued to experience during the Great Depression. In fact, he pointed out, "The crash of the stock market in 1929 itself should not cause the Great Depression of the 1930s."

This ratio has always been decreasing during the economic recession, but before 2001 it always rose to a high price during the recovery period. The economic downturn in 2001 and the subsequent recovery changed this. This ratio has never fully recovered for the first time and has never fully recovered. This is a new phenomenon. Employment growth can not catch up with population growth. When the Great Depression occurred, this ratio returned from the lowest starting point to the fastest rate (since 1948). The Fed's efforts are focused on reducing debt holders, re-expanding the stock market, re-expanding the real estate market, and often creating formal Federal Reserve policy, wealth effect (Bernanke here Has been described). This again exaggerated the asset price - many of them exceeded the peak of the previous bubble