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63 sats \ 0 replies \ @Roll 18 Mar \ on: Stacker Saloon
Reminder of money effect :(
The Great Depression (1929-1939) was one of the most devastating economic disasters in history:
-It began with the Wall Street crash of 1929, wiping out millions of investors.
-The U.S. economy shrank by 50% within five years.
-Unemployment reached nearly 25% at its peak in 1933.
-Around 15 million Americans were out of work.
-By 1933, about 4,000 banks had failed.
-It lasted for almost a decade, causing widespread poverty and hardship.