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As the economy deteriorates, construction across the country halts.
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Farmers share of the national income drops to only 9 percent.
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The fall of stock prices is seen as marking the beginning of the great depression.
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The Most devastating stock market crash in the history of the united states, the market lost $30 billion in two days
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The first bank panic ensues causing bankruptcies
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Another bank panic occurs, mean while, no new major legislation is passed concerning the great depression.
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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 conservation corps were formed, and bank reform was put into action.
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Germany's war preparations and Heavy deficit spending finally pulls Germany out of it's depression
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The agricultural adjustment act established a minimum wage and maximum work week
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When World War II hit, it pulled the vast majority of the world out of the Great Depression through all of the government spending on the war.
