The Great Depression

The Great Depression
was a severe worldwide economic crisis
in most countries it started in about 1929 and lasted until the late 1930s or early 1940s.
It was the longest, most widespread, and deepest depression of the 20th century

Effect
The Great Depression had devastating effects
Personal income, tax revenue, profits and prices dropped
while international trade plunged by more than 50%
Some economies started to recover by the mid-1930s
But in many countries, the negative effects of the Great Depression lasted until the start of World War II.

Start of the Great Depression
Started with sudden devastating collapse of US stock market _prices on October 29, 1929.
Known as Black Tuesday.
Which was the most devastating stock market crash in the history of the United States.
It signaled the beginning of the 10-year Great Depression.
Market collapse and financial panic Constant demand for shares.

Market collapse and financial panic
Constant demand for shares made their price higher and higher.
During the 1928-29 years _prices reached extreme heights.
Shareholders became worried at first, then panicked.
group of companies couldn't cover costs and become bankrupt.