The Great Depression (1 ottob 1929 anni – 1 gen 1939 anni)

Descrizione:

The Great Depression hit as a result of the stock market crash of October, 1929, bank failures, the lowered gold standard, decreased international lending and tariffs, over-production and drought. After the stock market crashed, it sent everyone into a state of panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing shocking declines in industrial output of all different areas, and countless people lost their jobs due to numerous different reasons. The Great Depression was a period of pained suffering, empty money tins, and a higher death rate. The Great Depression started in the United States and soon spread to the rest of the world, almost a bit like the current COVID-19 worldwide pandemic, except this time it wasn't affecting the personal health of individual people, it was destroying the economies of countries, and the bank accounts of the people. The Great Depression ended when World War 2 ended due to the particularly sharp reductions in spending, taxes and regulation. Double celebration!!

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