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The Great Depression
Transcript of The Great Depression
The stock market crash of 1929
What was the Great Depression?
The Great Depression was an economic slump in North America, Europe and several other areas. It was the longest and most severe depression ever experienced. The Great Depression began midway through 1929 and lasted all the way through 1939.
Why and How?
America's Great Depression began with the dramatic crash of the stock market on Black Thursday, October 24, 1929 16 million shares of stock were quickly sold by panicking investors and 3 years later after this event, stock prices dropped down by 20% and kept getting lower. Because of this more than 25,000 banks failed and people lost all their money because currently there was no FDIC. So many people were poor that that there were ''Depression Cafes'' made that gave out free food, some people even commited suicide becuase of this event
The outcome of The Great Depression was thousands of companies out of business and over 13,000,000 of poor unemployed people. This event eventually became a disaster. People were protesting against better economy and jobs. Even police men where standing infront of the very few banks that stayed in business to protect them from angry protestors.
The Great Depression ended in 1940, it ended becuase of the big supply that World War II was demanding. In 2 years after the Great Depression the unemployment rate was at 1% in America but this event still was the greatest economical disaster America has ever faced