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Originally posted by NOTANWOFOLLOWER
Here are some basic facts about the American Great Depression that I felt you would take interest in.
13 million people became unemployed.
Industrial production fell by nearly 45% between the years 1929 and 1932.
Home-building dropped by 80% between the years 1929 and 1932.
From the years 1929 to 1932, about 5,000 banks went out of business.
By 1933, 11,000 of the US' 25,000 banks had failed.
In 1933, 25% of all workers and 37% of all nonfarm workers were unemployed.
Between 1929 and 1932 the income of the average American family was reduced by 40%.
AMERICA HERE WE GO AGAIN... IT SEEMS THE ONLY THING THAT BROUGHT US ABOUT WAS WORLD WAR TWO
I GUESS WE JUST RIDE OUT WHATEVER COMES
[edit on 22-1-2009 by NOTANWOFOLLOWER]
Originally posted by LostNemesis
We are close to 13mil unemployed right now, as far as what I've heard.
[edit on 22-1-2009 by LostNemesis]
Originally posted by Sir Solomon
WWII only sped up the recovery that was already happening. Without the war it may have taken a lot longer. The government mass spending that was associated with the war was just exactly like a massive economic stimulus plan. Industries were rebuilt and the unemployed put back to work faster than the natural recovery rate.