GREAT DEPRESSION BEGINS (oct 1, 1929 – mar 1, 1939)
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The Great depression started in October of 1929, in the United States after the stock market took a dramatic crash. Wall Street was immediately sent into a crash, millions of investors became wiped out. Many blame commercial banks on the crash, who were too eager to risk deposits by investing them into the market, buying shares on the margin and the general over - confidence in the sustainability of economic growth. The depression lasted a solid ten years, at its lowest point - 15 millions Americans were unemployed, and half the countries banks had failed. Not only did the depression affect America, it sent the world into a financial spin. A lot of countries relied on Americas import/export trade, and when this dried up, they were left helpless. Countries like Germany, who industrial based, soon came to a halt without the import/export option of the world. They too, soon lost millions of workers and lost millions of dollars. This left the world in a vulnerable position and whole countries suffering from extreme poverty and depression. After years, Germany was looking for a solution, and Adolf Hitler thought he was the answer. Germany was tired of the constant misery , suffering and weakness. They turned to listen to a strong fanatic during this time.
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WW2 TIMELINE
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