The Great Depression

By: Garrett Long

Five bullet point summery

  • From 1929 to 1933, industrial production in the United States went down nearly 50 percent.
  • Unemployment rose to at least 25 percent.
  • Farm prices fell more than 50 percent.
  • Stock prices crashed 80 percent.
  • One in every three of the nation's banks failed. Many people lost their life savings.


A key person

President Roosevelt who made multiple programs to pull the U.S.A. out of the Great Depression.


Event's

  • The Great Depression was the worst economic crisis of the modern era. It began in 1929 and affected many countries.
  • During the 1800s. Herbert Hoover, elected president in 1928, wanted to avoid the fear associated with the word "panic." So he called the new economic crisis a "depression."
  • The stock-market crash in October 1929 is often seen as the cause of the Depression. But the roots of the crisis lay in underlying problems in the economy.


The Great Depression
"Depression, Great." The New Book of Knowledge. Grolier Online, 2014. Web. 15 Jan. 2014.