Period of economic crisis and low business activity in the U.S. and other countries, roughly beginning with the stock-market crash in October, 1929, and continuing through most of the 1930s. Devastating effects in countries both rich and poor. Personal income, tax revenue, profits and prices dropped international trade plunged by more than 50%. Unemployment in the U.S. rose to 25% and in some countries rose as high as 33% Fear & Speculation In the U.S. The Great Depression started after a major fall in stock prices that began September 4, 1929, stock market crash of October 29, 1929, (known as Black Tuesday) Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II.
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About the authorReilly is a 10th grader at Kamehameha schools and is 15 years old. He lives in Makakilo with his mom, dad, brother, 2 cats, and dog. He likes to cook food and eat food. He has hobbies like musical theatre. Archives
May 2020
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