1 Jan 1929 Jahr - Great Depression begins

Beschreibung:

Due to the 1929 stock market crash, thousands of investors panic while Wall Street collapsed, consumer spending and investment dropped, causing massive declines in RGDP (production output and employment dropped). During the lowest point of the Great Depression, 15 million Americans were unemployed and nearly half the country’s banks had failed. Franklin D. Roosevelt set up many programs, including the New Deal, to provide job opportunities for US to work its way through the Great Depression.

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