What Are The Worst Effects Of The Great Depression

The great depression was one of the most severe economic situation that the world had ever seen which took place during late 1929 and lasted till 1939 was one of the deepest and long lasting economic downturns in the history of western civilization. This depression began a bit after the stock market crashed in the month of October of the year 1929 which wiped out millions of companies and send into panic rich investors. As the years passed people realized they would need to spend less money therefore investment dropped which caused a dramatic decline in industrial outputs and a tragic high level of unemployment as failing companies laid off workers. Years later by 1933 as the great depression reached its greatest point of despair, about 13 to 15 million Americans were unemployed and nearly half of the country's banks had failed. Although, with the relief and the reform plans and measures with were put in place by President Franklin D. Roosevelt it helped lessen the worst effects of the great depression in the 1930s. This would change American history in many ways, it showed American's to stay strong and made America realize that if you endure throughout tough times you will persevere and become stronger just like we are today.
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And as a result of that these workers were not capable of buying certain goods as fast as the industry was producing them. At this time 99 percent of the population (121,770,000) was receiving a 9 percent increase in their incomes, while the other top one percent (1,230,000) saw their income rise by 75 percent. This was mostly because of monopolies that were taking place during this