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The US Stock Market crashes on Black Tuesday, people who bought stock on margin lost millions of dollars.
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The first bank panic ensues causeing bankruptcies
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Severe drought and Dust Bowl conditions began to ruin farmers’ land.
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Food riots broke out, workers marched on Detroit, and “foreign workers” were deported
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100,000 banks have failed since 1929, crippling the economy.
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Unemployment sky rockets to an unbelievable 25 Percent average for the year.
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President Roosevelt begins to implement the new deal, this began to help the economy, it implemented things like minimum wage and maximum work week, and child labor laws, and unemployment compensation. As well as agricultural loans, civilian constervation corps were formed, and bank reform was put into action.
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Thanks to Germany's economic desperation, hitler was able to push his way to the top, and gain the people's love by turning the economy around.
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Franklin D. Roosevelt turned around America's Unemployment rate, when he became president the unemployment rate was 25 percent, and in 1937, it had fallen to 14.3 percent, a dramatic difference.
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Germany's war preparations and Heavy defecit spending finaly pulls Germany out of it's depresion
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The agricultural adjustment act established a minimum wage and maximum work week.
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