BLOCK BUSTER
STUDIO PRESENTS" THE
GREAT DEPRESSION
USA "
WONDERS OF
AMERICA : https://www.youtube.com/watch?v=w0YeiNilj1I
Royal Bank of Scotland is warning their investors to sell virtually all their investments. Is this the beginning of the big selloff and a new depression? What Will Happen When
The Dollar Collapse In 19 Feb 2016. economic depression,dollar collapse and ww3.
The Great Depression was a severe worldwide economic depression that took place during the
1930s. The timing of the
Great Depression varied across nations; however, in most countries it started in 1929 and lasted until the late 1930s.[1] It was the longest, deepest, and most widespread depression of the
20th century.[2] In the
21st century, the Great Depression is commonly used as an example of how far the world's economy can decline, end time, end time prophecy,
The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the
Western industrialized world
. In the United States, the Great Depression began soon after the stock market crash of
October 1929, which sent
Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and rising levels of unemployment as failing companies laid off workers. By 1933, when the Great Depression reached its nadir, some 13 to 15 million
Americans were unemployed and nearly half of the country’s banks had failed. Though the relief and reform measures put into place by
President Franklin D. Roosevelt helped lessen the worst effects of the Great Depression in the 1930s, the economy would not fully turn around until after
1939, when
World War II kicked
American industry into high gear.
THE GREAT DEPRESSION BEGINS: THE
STOCK MARKET
CRASH OF 1929
The American economy entered an ordinary recession during the summer of 1929, as consumer spending dropped and unsold goods began to pile up, slowing production. At the same time, stock prices continued to rise, and by the fall of that year had reached levels that could not be justified by anticipated future earnings. On
October 24, 1929, the stock market bubble finally burst, as investors began dumping shares en masse. A record 12.9 million shares were traded that day, known as “
Black Thursday.” Five days later, on “
Black Tuesday” some 16 million shares were traded after another wave of panic swept Wall Street.
Millions of shares ended up worthless, and those investors who had bought stocks “on margin” (with borrowed money) were wiped out completely.
As consumer confidence vanished in the wake of the stock market crash, the downturn in spending and investment led factories and other businesses to slow down production and construction and begin firing their workers. For those who were lucky enough to remain employed, wages fell and buying power decreased. Many Americans forced to buy on credit fell into debt, and the number of foreclosures and repossessions climbed steadily. The adherence to the gold standard, which joined countries around the world in a fixed currency exchange, helped spread the
Depression from the United States throughout the world, especially in
Europe.
THE GREAT DEPRESSION DEEPENS:
BANK RUNS AND THE HOOVER ADMINISTRATION
Despite assurances from
President Herbert Hoover and other leaders that the crisis would run its course, matters continued to get worse over the next three years. By
1930, 4 million Americans looking for work could not find it; that number had risen to 6 million in 1931.
Meanwhile, the country’s industrial production had dropped by half.
Bread lines, soup kitchens and rising numbers of homeless people became more and more common in
America’s towns and cities.
Farmers (who had been struggling with their own economic depression for much of the
1920s due to drought and falling food prices) couldn’t afford to harvest their crops, and were forced to leave them rotting in the fields while people elsewhere starved
.
In the fall of 1930, the first of four waves of banking panics began, as large numbers of investors lost confidence in the solvency of their banks and demanded deposits in cash, forcing banks to liquidate loans in order to supplement their insufficient cash reserves on hand.
Bank runs swept the United States again in the spring and fall of 1931 and the fall of 1932, and by early 1933 thousands of banks had closed their doors. In the face of this dire situation,
Hoover’s administration tried supporting failing banks and other institutions with government loans; the idea was that the banks in turn would loan to businesses, the great depression documentary,the great depression explained,The Great Depression: Causes and
Effects,An Overview of the Great Depression,
Stories from the Great Depression,
Riding the Rails:
Hobo Kids during Great Depression which would be able to hire back their employees.
http://www.infowars.com/show
- published: 03 Jan 2016
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