The Great Depression

The Great Depression was an extreme globally financial depression that occurred generally during the 1930s, starting in the United States. The planning of the Great Depression changed across countries; in many nations, it began in 1929 and went on until the late 1930s.

TheGreat Depression started with the securities exchange crash of 1929 and was worst by the 1930s Dust Bowl. President Franklin D. Roosevelt reacted to the financial disaster with programs known as the New Deal.

An Overview…...

Time Period                                    August 1929 – March 1933
Duration in Months                        43
Global GDP Decline                       -26.7%
Peak Global unemployment          24.9% (1933)

What happened in the great depression?

The depression was brought about by a number of serious weaknesses in the economy. In spite of the fact that the 1920s showed up superficially to be a prosperous time, salary was unevenly distributed. The wealthy made enormous profits, however an ever increasing number of Americans spent more than they earned, and farmers faced low prices and heavy debt. The lingering impact of World War I (1914-1918) caused economic or financial problems in many countries, as Europe battled to pay war debts and reparations. These issues contributed to the crisis that began the Great Depression.

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America's "The Great Depression" begins with the emotional accident of the stock market on "Black Thursday", dated October 24, 1929, That time when 16 million shares of stock were immediately sold by panicking investors who had lost confidence  in the American economy. At the peak of the great Depression in 1933, nearly 25% of the Nation's total work force, 12,830,000 people, were jobless.

Wage income for workers who were lucky enough to have kept their jobs fell almost 43% somewhere in the range 1929 and 1933. It was the most noticeably awful financial fiasco in American history. Farm prices fell so radically that numerous farmers lost their homes and land. Many went hungry.

Causes of the great depression of USA
  • Unequal distribution of wealth
  • High Tariffs and war debts
  • Over production in industry and agriculture
  • Stock market crash and financial panic

Effects of the great depression

  • Widespread hunger, poverty, and unemployment
  • Worldwide economic crisis
  • Democratic victory in 1932 election
  • FDR's New Deal


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