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Symptoms And Causes Of The Great Depression

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Symptoms And Causes Of The Great Depression
The Great Depression was a worldwide economic depression that lasted 10 years. Its kickoff was “Black Thursday," October 24, 1929. The height of the Depression was 1933. By then, unemployment had risen from 3 percent to 25 percent of the nation’s workforce. Wages for those who still had jobs fell 42 percent. Gross domestic product was cut in half, from $103 billion to $55 billion. The Depression caused many farmers to lose their farms.

At the same time, years of overcultivation and a drought created the “Dust Bowl” in the Midwest. It ended agriculture in a previously fertile region. The Fed began raising the fed funds rate in the spring of 1928. It kept increasing it through a recession that began August 1929. That's what caused the stock
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