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The Great Depression began when the US Stock Market crashed in 1929. The effect of the crash was felt around the world but affected different countries in different ways. How was the effect on Germany different from the effect on the United States? How did the Great Depression contribute to Hitler’s rise to power? Do you know of any other economic crises since the Great Depression? What was the main reason for that crisis?
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The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.
The Great Depression of 1929 devastated the U.S. economy. A third of all banks failed. 1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted, international trade collapsed, and deflation soared.
The main cause of the Wall Street crash of 1929 was the long period of speculation that preceded it, during which millions of people invested their savings or borrowed money to buy stocks, pushing prices to unsustainable levels.
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