What impact did the Great Depression have on ordinary Americans?

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For many people in the United States, the Great Depression meant a significant decline in standard of living. The hallmark of the the Depression was high unemployment, but for many people, job loss was preceded by a significant decline in the value of investments, and, for those unlucky enough to have money in failing banks, a loss of savings. As the spending power of families decreased, and one bank after another collapsed, the liquidity crisis that caused the depression in the first place deepened. Many people who retained their jobs were forced to accept...

(The entire section contains 280 words.)

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