Group7p5

3)The Great Depression  October 1929- Early 1940s  P.S- THIS WIKI WAS NOT WORKING AT ALL, WE SPENT TWO CLASSES TRYING TO FIGURE IT OUT!!!!!!! UGH!!!!!! 2) The great depression was, without a doubt the longest, and worst economic downfall in the history of America. The Depression started with a stock market crash in the early 1930s. Unemployment rates increased incredibly during the depression, leaving almost one-third of the population without a job. From the year 1929 to 1932, falling by 10 percent, output decreased greatly. Without jobs, there is no money and during the depression almost half of the commercial banks in America failed leaving people to lose their homes and everything they had. Homelessness, poverty, and general despair took over the citizens of America. Even Germany was hit hard with the loss of money. The economy in Germany was very venerable since it was built from a lot of loans from America, and was very dependent on foreign trade. When those loans came due and when the world market for German exports disappeared, the well oiled German industrial machine quickly came to a stop. Overnight, the middle class standard of living for German families was ruined by events outside of Germany. The Great Depression began and they were cast into poverty and deep misery and began looking for a solution. That’s when Adolf Hitler saw his chance, and that’s when the series of events with the holocaust in Germany began, and what caused the beginning of WWI. Only when the government decided to send million of troops into the war of WWII did the depression end.

3) The Great Depression impacted later historical events. Some of the government programs created under The New Deal plan still affect us, in the United States, today. They employ thousands of workers. However, the idea of deficient spending was born and has never been diminished. Safeguards have been put in place to prevent such a meltdown from happening ever again. The Depression still gives a scare to everybody today, especially in America. Since we are in a recession today in the U.S., people fear we may go into a depression because a recession started off The Great Depression in 1929. The things they did back then to try to mend the Depression little by little, like The New Deal, affects us today, as the unemployment rates are climbing and prices and taxes are going up as well. In Germany they are still healing since they were in a state of hyperinflation during the Depression. The Depression hit them hard. They still have to pay off loans that they got, back then, to help them get through the Depression.

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