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The Great Depression of the 1930s began with the stock market crash of October 1929. When the US economy first experienced an economic recession it was as a result of the great depression that started in August 1929. Even though the country spent two months with falling GDP, it was not until the Wall Street Crash in October 1929 that the impacts of a falling economy were felt, and a major global economic downturn followed. The market crash signaled the start of a decade of poverty, high unemployment during great depression, low profits, deflation, falling farm incomes, and lost opportunities for personal advancement and economic growth. Even though its causes are still controversial and uncertain, the total effect was an abrupt and general loss of trust in the economic future. The conventional explanations include various factors, particularly ill-regulated markets, high consumer debt that allowed overoptimistic loans by investors and banks, and the absence of...
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