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What economic factors and conditions converged in the late 1920''s to plunge the nation into the Great Depression?

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There were numerous economic factors and theories about the causes of the global financial recession in the late 1920s until the early 1940s known as the Great Depression. In the United State it is largely believed that a large economic bubble or over-investment followed by the stock market crash and major bank failures that led to a period of drastic decline and deflation. The loss of consumer confidence in the banking sector and in the economy as a whole had a dramatic impact on the economy for the next decade.

Crash of Stock market, financial recession, and major bank failure are some of the economic factors and conditions converged in the late 1920's to plunge the nation into the Great Depression.

Further Explanations:

The First World War left the economy of the United Nations in a severe condition that resulted in the Great Depression which led to the fall of economies USA. Protectionism, Congressional fares, and speculation added to the stock market breakdown of the United States. By 1933, most of Europe and the USA were in the clutches of the Great Depression, leaving many citizens unemployed.

The Depression led to idleness as it resulted in the breakdown of around 20000 businesses and factories. Most of the businesses went bankrupt and export got plunged totally. These factors led to widespread starvation, idleness and bank raspy. Many citizens lost their lives out of starvation. The whole economy of the nation got shattered in a short interval.

 

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Answer Details-  

Grade: High School.

Subject: History

Chapter: The Great Depression

Keywords:

Great Depression, stock market crash, economy, war reparations, economic devastation, loans, stock crash, USA, Protectionism, Congressional fares, and speculation, starvation, idleness and bank raspy

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