In a nutshell: the Great Depression - Deepstash

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In a nutshell: the Great Depression

historyextra.com

The Great Depression

.. was a devastating economic collapse which started in the US in 1929, lasting a decade. Europe was already struggling post the WWI recession, while the US was thriving. As borrowings and stock purchase increased, Wall Street went into a meltdown as soon as the share prices nosedived. This l...

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On 29th October 1929, the infamous crash of Wall Street happened, where 30 million dollars were lost in a week, leading to customers rushing to withdraw their money, known as the ‘bank run’.

The entire world felt the capitalistic fall and realized that a boom leads to a bust, even...

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In 1933, then-President Franklin Roosevelt promoted his recovery path of Relief, Recovery and Reform, to give shape to the slow and arduous reform process that will take decades.

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Two great novels of the Great Depression were Of Mice and Men and The Grapes of Wrath, written by American novelist John Steinbeck. A famous song, Brother, Can you Spare A Dime, was written in 1931 by Bing Crosby and has been covered many times.

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The United Kingdom And The Great Depression

Already struggling with four years of war, Britain was trying to recover when the crash occurred, and reeled in it for a decade, only to participate in another expensive and deadly World War: WW II.

The Great Depression was mostly felt by the North of England as well as the industrial cent...

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Germany And France

Germany had already been in the previous World War and the Great Depression led to its banking systems to collapse in 1931. It also gave rise to the radicalized politics of Adolf Hitler.

France was still better off, but the global recession caused a fall in demand for exports, sinking it i...

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While the USA proved to be by far superior to Europe both financially and industrially, after having got its independence, it did know a huge economic crisis in 1929, through the crash of the Wall Street stock market.

Everything started on the 18th of October, when prices fell sharply, res...

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What made the Great Depression so different from other crises was the fact that in the very same period when the Wall Street stock market fell, farmers also started having big issues with their harvest, due to a string of dust storms.

The storms eventually led to many farms drying up. Ther...

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Chicago gangster Al Capone opened a soup kitchen and, therefore, succeeded in feeding millions of people.

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