Great Depression (aug 1, 1929 – mar 1, 1933)
Description:
The Great Depression was by far the worst economic recession in the history of the world since industrialisation. The depression lasted for a long 10 years (1929-1939) and it started after the huge stock market crash in October of 1929. In 1933, the Great Depression reached its worst point as 15 million Americans didn’t have jobs and almost half of the American banks had collapsed. In the years prior to the Great Depression the stock market was booming but it wouldn’t keep growing that rapidly forever. In 1929 the market started to slow down and by October people started selling huge amount of stock. The 28th and 29th of October were the days where the values well 23%. Those two days were then referred to as “Black Monday” and “Black Tuesday”.
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