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Line 44:
Line 44: − The period 1941–42 contained the longest nonstop downswing crash (7 1/2 months) in history. Certain analysts call this two separate bear markets, one from September 1937 to March 1938, and the second from May 1940 to April 1942. − + +
→Crash of 1937
1937 DJIA declined 51.8% over 56 months. There were five crash phases: (1) August to November (DJIA fell 40% in this first phase). (2) February to March 1938. (3) January to April 1939. (4) May 1940. (5) October 1941 to April 1942. Business peaked out and fell violently, simultaneously with stocks. Economic indicators bottomed out 9 months later (May 1938). The recovery began mildly at first, but not until the World War II production boom was the country lifted out of the Great Depression.
1937 DJIA declined 51.8% over 56 months. There were five crash phases: (1) August to November (DJIA fell 40% in this first phase). (2) February to March 1938. (3) January to April 1939. (4) May 1940. (5) October 1941 to April 1942. Business peaked out and fell violently, simultaneously with stocks. Economic indicators bottomed out 9 months later (May 1938). The recovery began mildly at first, but not until the World War II production boom was the country lifted out of the Great Depression.
During the Great Bear Market from 1929 to 1942, the [[Dow Jones Industrial Average]] (DJIA) had rallies of 48% (from November 13, 1929, to April 17, 1930), 94% (July 8, 1932, to September 7 of that year), 121% (February 27, 1933, to February 5, 1934), 127% (July 26, 1934, to March 10, 1937), 60% (March 31, 1938, to November 12 of that year), and 28% (April 8, 1939, to September 12 of that year). Yet, on April 28, 1942, the apex of the [[Malthusian crisis]] that was [[World War II]], the DJIA was still at only 92.92, 76% below its September 3, 1929, high of 381.17. <ref>Daniel Turov, [http://www.leithner.com.au/newsletter/issue18.htm ''Mixed Message,''] Barron’s, 21 May 2001, quoted in the Liethner Letter, Issue 1826 June 2001, retrieved 11 June 2007.</ref>
During the Great Bear Market from 1929 to 1940, the [[Dow Jones Industrial Average]] (DJIA) had rallies of 48% (from November 13, 1929, to April 17, 1930), 94% (July 8, 1932, to September 7 of that year), 121% (February 27, 1933, to February 5, 1934), 127% (July 26, 1934, to March 10, 1937), 60% (March 31, 1938, to November 12 of that year), and 28% (April 8, 1939, to September 12 of that year). Yet, on April 28, 1942, during the early phase of US involvement in [[World War II]], the DJIA was still at only 92.92, 76% below its September 3, 1929, high of 381.17. <ref>Daniel Turov, [http://www.leithner.com.au/newsletter/issue18.htm ''Mixed Message,''] Barron’s, 21 May 2001, quoted in the Liethner Letter, Issue 1826 June 2001, retrieved 11 June 2007.</ref>
===Double-dip recession===
===Double-dip recession===