Economic Depression, Stagflation, Stag-Depress-Flation

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The United States suffered through a deflationary depression in the 1930s. Stock prices crashed, currency in circulation declined, commodity and real estate prices fell hard and human misery prevailed. President Roosevelt revalued gold from $20.67 to $35.00 per ounce in 1933 – a substantial devaluation of the dollar. Make-work and government spending programs were implemented. War followed the depression.

First published here: Economic Depression, Stagflation, Stag-Depress-Flation

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