The Great Depression
Worldwide economic depression
What was the Great Depression?
The Great Depression can be used as a prime example of how far the world's economy can decline. The fall in stock prices played a large roll with causing the Great Depression. The depression originated in the United States.
Stock Market Crash
On October 29, 1929, Black Tuesday hit Wall Street as investors traded about 16 million shares on the NYSE. Billions of dollars were lost, which caused investors to be wiped out.
The Dust Bowl
Also known as the "Dirty Thirties" was a severe drought and a failure to apply dryland farming methods to prevent wind erosion. The drought came in three waves: 1934, 1936, 1939-40.
Unemployment
In 1933, unemployment rates in the United States reached almost 25%. There was almost 11 million people looking for work.
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