S: The Great Depression
FC: The Great Depression
1: The Great Depression was a severe worldwide economic depression in the decade Preceding to World War II. The timing of the Great Depression varied across the nations, but in most countries it started in about 1929 and lasted up until the late 1930s or early 1940s. It was the longest, most widespread, deepest depression of the 20th century, and it is used in the 21st century as an example of how far the world's economy can decline. The depression did in fact originate in the U.S, starting with the stock market crash of October 19, 1929 (known as Black Tuesday) but quickly spread to almost every country in the world.
2: The Great Depression technically had effects on every country, the rich and poor. Personal income, tax revenue, profits and prices dropped, and international trade declined. Unemployment in the United States rose to 25% and compared to other states, we were doing great! Some state's unemployment rates dropped as low as 33%! We are going through rough times now, but fortunately we didn't let it get this bad again.
3: Cities all around the world were hit hard. Especially those dependent on heavy industry. Construction was stopped in many countries. Farming in rural areas suffered as their crop prices fell to about 60$. And they did not have many more job options open for them. Areas dependent on primary sector industries such as cash cropping, mining, and logging suffered the most.
4: As you can see in the pictures, the people are all gathering in Wall Street after the 1929 crash. Some people ask, what are the causes of the Great Depression? And some even wonder if the causes are the same as what we are doing now. Well, there were multiple causes of the stock market crash of 1929 including including the structural weakness and events that turned into a major depression and down turned enough to effect many countries.
5: The crash market got so bad that they're were actually people sleeping on the streets due to loss of jobs and no money. And they would be lucky if they were alone because some families had to figure out how to feed their children while living on the streets. But finally, recovery in the United States started in the spring of 1933.