Failing American Economy

Definition

The failing American economy refers to a period of economic decline characterized by high unemployment rates, decrease in industrial production, declining consumer spending, and financial instability. It often results in negative consequences for individuals and businesses alike.

Related terms

Stock market crash: Refers to the sudden and significant decline in stock prices on Wall Street that occurred on October 29, 1929 (known as Black Tuesday), marking the beginning of the Great Depression.

Bank failures: The collapse of banks due to insolvency during periods of economic crisis, causing depositors to lose their savings and further exacerbating financial instability.

Unemployment rate: The percentage of people who are actively seeking employment but unable to find jobs within an economy during a specific time period.