The great depression between 1933 and 1941

By fturaif

  • 1933

    A bank holiday is announced by Roosevelt, financial institutions are closed so that a run on banks are stopped.

  • 1933

    Roosevelt attempts to distribute once again wealth form the rich to the poor. Later on he rejects Keynes' advice to begin heavy spending.

  • 1934

    This year is one of the best years because the economy redeems itself by inflating the National Gross to 7.7 percent, and the unemployment rate decreases to a 21.7 percent.

  • 1934

    Sweden officially has become the first nation to overcome and fully recover from the great depression, by following a policy of Keynesian deficit spending.

  • 1935

    The economy continues to redeem itself, making the national Gross income rise to another 8.1%, and unemployment deflate to 20.1%.

  • 1936

    The tax rate elevated to 79.

  • 1938

    The national gross income deflated to 4.5 percent and unemployment increases to 19%.

  • 1939

    World War II begins by Hitler's invasion of Poland.