-
Farmers share of income plummets.
Farmers share of the national income drops to only 9 percent. -
The construction boom ends.
As the economy deteriorates, construction across the country comes to a halt. -
Stock Market crash (black tuesday).
The most devastating stock market crash in the history of the United States, the market lost $30 billion in two days. -
First bank panic.
The first bank ensues causing bankruptcy. -
Smoot-Hawley Tariff
Was a law that implemented protectionist trade policies in the United States. -
Reconstruction Finance Corperation
Provided financial support to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses. -
100,000 total banks have failed.
100,000 banks have failed since 1929 crippling the economy. -
Hitler comes to power.
Thanks to Germany's economic desperation Hitler was able to push his way to the top and gain peoples love by turning the economy around. -
The New Deal begins.
was a series of programs, public work projects, financial reforms, and regulations for relief, reform, and recovery from the Great Depression. -
Unemployment hits 25 percent.
Unemployment sky rockets to an unbelievable 25 percent average for the year. -
Franklin D. Roosevelt is elected President.
He turned around Americas unemployment rate , when he became president the employment rate was 25%, and he made it fall to 14.3% by 1937. -
World War II Begins.
When WWII hit it pulled the vast majority of the world out of the Great Depression through all of the government spending on the war.
