The Great Depression

By Brandan Johnson

The Great Depression

The Great Depression starting in 1929 and ending with the start of the second world war in 1939. This was the longest lasting economic downturn in the history of the United States and the western world. The Great Depression began right after the stock market crash in October of 1929. This sent wall street into a panic and many investors and citizens made a run on the bank trying to pull all of their money out at once. Over the next few years spending and investing dropped. This caused huge declines in industrial output and rising levels of unemployment as some of the companies that were going under laid off workers to try to stay alive in the markets. By 1933 the depression was at its high point with some 13 to 15 million Americans were unemployed and almost half of the countries banks failed. Franklin D. Roosevelt helped lessen the effects of the Great depression in 1930. The economy wouldn't rebound fully until after World War II started, this would kick the production industry into high gear trying to pump out machines for war in the Pacific.