2nd-The+Great+Depression

The Great Depression was a serious worldwide economic depression. (An economic depression is a long-term downturn in economic activity in one or more countries.) The Great Depression took place preceding World War II. The Great Depression's timing differed around the world but it mostly started in 1929 and lasted to the late 1930s/early 1940s. It was the most widespread depression of the 20th century. The depression was started by the stock market crash of October 29, 1929, also known as Black Tuesday. Unemployment rates rose worldwide, the U.S. rising to 25% and other countries rising to 33%. About 5,500 banks closed and 32,000 businesses went bankrupt in the U.S. alone. Not only did The Great Depression raise the unemployment rate, but also the suicide rate. The suicide rate jumped from 14% to 17% per 100,000 citizens.
 * ​THE BEGINNING OF THE GREAT DEPRESSION:**



During The Great Depression the gross national product had decreased from $103.8 billion to $55.7 billion. Stock values dropped 20% during The Great Depression. The economy of the United States was at an all time low. Due to the bank closings, loans were not given out which made it nearly impossible for new companies and small businesses to get up and running. The annual failure rate for new companies was 127 for ever 100,000 companies. Economists look at The Great Depression more as a recession because is a period in which economic activity is receding or falling, while a depression is a period in which it is depressed below some level. Those who were employed had just as much (if not more) stress than those who weren't. Not only did those who worked have to worry about providing for their families on a smaller salary, but they also stressed about keeping their jobs.
 * ECONOMIC EFFECTS OF THE GREAT DEPRESSION:**

The end of The Great Depression took place in December 1941, the same day the U.S. became involved in WWII. Roosevelt's New Deal was also a major part of bringing the U.S. out of The Great Depression. The New Deal was to accomplish the "3 R's", relief, recovery, and reform. **
 * THE ENDING OF THE GREAT DEPRESSION: