US Economic History: 1921-present March 2, 16 Dr. Edward Yardeni 516-972-763 eyardeni@ Mali Quintana 4-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents 3-6 March 2, 16 / US Economic History: 1921-present www.
162 142 1 2 2 Figure 1. INDUSTRIAL PRODUCTION: 1921 TO PRESENT (07=0, ratio scale) Feb 162 142 1 2 2 62 62 42 42 2 1921 1926 1931 1936 1941 1946 1951 1956 1961 1966 1971 1976 191 196 1991 1996 01 06 11 16 21 2 Source: 1 1 Figure 2. INDUSTRIAL PRODUCTION: 1921 TO PRESENT (07=0) 1 1 1 0 Feb 1 0 1921 1926 1931 1936 1941 1946 1951 1956 1961 1966 1971 1976 191 196 1991 1996 01 06 0 11 16 21 0 Page 3 / March 2, 16 / US Economic History: 1921-present www.
Figure 3. 9 INDUSTRIAL PRODUCTION: 1921 TO 1939 (07=0) 9 7 7 6 6 5 5 4 3 A B C 1921 19 1923 1924 1925 1926 1927 192 1929 19 1931 1932 1933 1934 1935 1936 1937 193 1939 A = Smoot-Hawley Tariff enacted B = NRA declared unconstitional C = Revenue Act. 4 3 2 Figure 4. 2 26 24 INDUSTRIAL PRODUCTION: 19-1959 (07=0) 26 24 1 1 16 16 14 14 12 12 D E 19 1941 1942 1943 1944 19 1946 1947 194 1949 19 1951 1952 1953 1954 1955 1956 1957 195 1959 D = Japan surrenders E = Korean War begins Page 4 / March 2, 16 / US Economic History: 1921-present www.
55 Figure 5. 55 INDUSTRIAL PRODUCTION: 19-1979 (07=0) 35 35 25 F G 25 19 1961 1962 1963 1964 1965 1966 1967 196 1969 19 1971 1972 1973 1974 1975 1976 1977 197 1979 F = Kennedy cuts taxes G = Oil prices soar 95 Figure 6. 95 5 INDUSTRIAL PRODUCTION: 19-1999 (07-0) 5 75 65 75 65 55 55 H TI 1 2 3 4 5 6 7 9 91 92 93 94 95 96 97 9 99 H = Reagan tax cuts I = Berlin Wall falls Page 5 / March 2, 16 / US Economic History: 1921-present www.
1 Figure 7. 1 INDUSTRIAL PRODUCTION: 00 TO PRESENT (07-0) Feb 0 0 K J 00 01 02 03 04 05 06 07 0 09 11 12 13 14 15 16 17 1 19 J = AIG/Lehman collapse K = Mark to Market suspended. Page 6 / March 2, 16 / US Economic History: 1921-present www.
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