Economic contraction ended by 1933, and had already started to dramatically reduce the downfall in 1932 (the year of the election, before FDR took office). By 1935 economic output had reached the level of 1929 again.
There was a second, smaller recession in '37/38 when government spending was contracted to quickly in an effort to eliminate budget deficits.
One of the major economic impacts of WWII on the U.S. was a period of nearly forced savings -- not many consumer goods to buy, gas ration stamps, sugar stamps, rubber rationing, etc combined with war bond drives. The combination of savings and demand for goods from having forgone broad consumer spending for so long is what in turn fueld the economic expansion of the 50s and 60s.
We're now experiencing the hangover from a period of prolonged government policies that encouraged easy credit instead of frugal savings to achieve goals.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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