What was the Great Depression?
The Great Depression in the United States was a period beginning with the stock market crash in 1929 and lasting until the beginning of World War II. This was the longest economic slump in the history of the modern world. During the Great Depression unemployment was at an all-time high with as much as 1/3 of the adult population out of work. Nearly one half of the commercial banks in the United States failed. Prices of crops in this country fell by as much as as 50%.
The Great Depression is a bleak period between World War One and World War Two, and it took place on 29 October 1929, where a huge stock market crash signalled the collapse of the American economy, signifying a huge financial crisis. Thousands of people lose their savings overnight, and many businesses closed and unemployment rate was at a all time high.
This affect Germany greatly during that period, as the loans that Germany depended from USA dried up completely. Germany businesses could not pay for their workers or buy materials to make their goods, so many businesses were forced to close, causing millions of Germans to lose their jobs. Germany economy crash again and unemployment was again on the rise. They now could not afford to pay repartions due to the mounting economic debts they got.
the great depression is an effect caused by the wall street crash. black thursday october 24th, 1929 13millions share was sold on the following tusday 29th october known as teriffing tuesday, 16.5 million were sold.
The Great Depression was a period in history between World War I and World War II. It took place during the 1930s.
The stock market crashed in 1929, causing many people to lose all of their savings and assets. The dustball also occured in the midwest of the United States.
The economies of the world were not doing well. Even Germany had to stop paying war reparations, and allied forces quit paying back the loan the United States had given them. Workers all over the world lost their jobs. Unemployment was at a high and prices of goods fell because people could not afford them.