"No one can possibly have lived through The Great Depression without being scarred by it. No amount of experience since the depression can convince someone who has lived through it that the world is safe economically." - Isaac Asimov
Everyday life of destitude.
The Great Depression (1929 - 39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world.
The Great Depression was a severe worldwide economic depression in the decade preceding WW1.
It peaked between 1932 and 1933.
Average income of Americans dropped by 40% from 1929 to 1932. It fell from $2,300 to $1,500 per year,
The stock market didn't return to pre-depression levels until 1954.
Unemployment grew to 5 million in 1930, and up to 13 million in 1932.
The president during the time was Herbert Hoover.
The Great Depression ended when the US was lead into WW11.
By 1933, more than 11,000 of the nations 25,000 American banks had shuttered, victims of The Great Depression.
Many banks were consequently forced into insolvency.
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