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The economic depression of the 1930s was longer and harder than any other in American history because it was followed by one of the longest and hardest droughts on record. There are cycles of drought, but this was one of the worst ever recorded. The decade started with dry years in 1930 and 1931 especially in the East. Then, 1934 recorded extremely dry conditions over almost 80 percent of the United States. Extreme drought conditions returned in 1936, 1939 and 1940. Walter Schmitt calls this the "double whammy" of drought and depression.
WASHINGTON — The worst drought in the United States in nearly a half-century is expected to drive up the price of milk, beef and pork next year, the government said Wednesday, as consumers bear some of the brunt of the sweltering heat that is driving up the cost of feed corn.
By 1929, the richest 1 percent will own 40 percent of the nation's wealth. The bottom 93 percent will have experienced a 4 percent drop in real disposable per-capita income between 1923 and 1929