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Mar 10, 2022 · The Great Depression, a worldwide economic collapse that began in 1929 and lasted roughly a decade, was a disaster that touched the lives of millions of Americans—from investors who saw their ...
United States - Great Depression, Economic Crisis, 1930s: In October 1929, only months after Hoover took office, the stock market crashed, the average value of 50 leading stocks falling by almost half in two months. Despite occasional rallies, the slide persisted until 1932, when stock averages were barely a fourth of what they had been in 1929. Industrial production soon followed the stock ...
Great Depression. The longest and deepest downturn in the history of the United States and the modern industrial economy lasted more than a decade, beginning in 1929 and ending during World War II in 1941.
The economies of Great Britain, Germany, and Japan had begun to recover by the end of 1932. France, however, does not move into a recovery phase until 1938. Timeline of important events pertaining to the Great Depression, when much of the world faced harsh economic conditions. Many people were out of work, hungry, or homeless.
The Great Depression, of course, had created the perfect environment—political instability and an economically devastated and vulnerable populace—for the Nazi seizure of power and fascist empire building. Consequently, it was the spread of totalitarianism and not economic hardship that occupied the minds of Europeans in the 1930s.
The widespread prosperity of the 1920s ended abruptly with the stock market crash in October 1929 and the great economic depression that followed. The depression threatened people's jobs, savings, and even their homes and farms. At the depths of the depression, over one-quarter of the American workforce was out of work.
The Great Depression, which began in the United States in 1929 and spread worldwide, was the longest and most severe economic downturn in modern history. It was marked by steep declines in industrial production and in prices (deflation), mass unemployment, banking panics, and sharp increases in rates of poverty and homelessness.
