What was the Great Depression?

Trend the Great Depression is? An economic disaster that shook the whole world. It started in the US in 1929. This is known as the Great Depression. The stock market crashed in the US in 1929. This was called Black Tusad. Here, a decade -long economic slowdown began. It wasn’t just from America. Most of the countries of the world were hit by it. The factory closed, banks drowned and people were forced to get hungry gold. At the time, people put wild money in the stock market. Even with a loan without thinking. When the market fell, everything collapsed. People in the bank ran to withdraw their money. The banks could not return that much money. Banks began to fail and the accumulated capital of the people was over. People couldn’t buy something because of a shortage of money. Companies closed and unemployment has reached its peak. In 1930, the US imposed heavy taxes on imports. The rest of the countries also answered. It has broken international trade and the recession has spread all over the world. Unemployment in the US has reached 25 percent. Earlier, people became involved with lines to get food. The homeless started living in tin huts on the street. Such huts were called ‘hoovervils’. The name is named after President Hoover, who considered people responsible for this crisis. The production of industries was about half. Families began to break and even the birth rate fell, it was not only economical, but also a social crisis. This gathering has changed people’s thinking. People began to fear guilty and began to give the savings. There was a major change in the world’s economic policy. Click here Life & Style Click for more stories Click here