What happened during a big depression?

Great depression is a common term for the social and economic situation in the United States (US) after a dramatic financial disaster in 1929. Recovery from various factors took almost ten years and had devastating effects on the global economy. The President of the United States Franklin Delano Roosevelt is widely attributed to monitoring politicians that allowed the economy and the country to recover by the end of the 30th. Due to the failing markets and the convergence of several unfavorable economic factors, the US stock market dropped dramatically at the end of October 1929 and continued its overall decline until 1932. According to financial experts, the market returned to the mid -1950s. Moreover, the massive costs of the recently closed First World War left the global economy that was unable to respond quickly to the crisis. Unemployment increased sharply as businesses that survived on stocks were forced to completely shrink or close. NodThe number of individuals has lost their invested savings in life and jobs and forced many families from comfortable existence to poverty within a few months, weeks or even days.

Despite his initial popularity, US President Herbert Hoover was to blame for not stopping or preparing for great depression, leading to Franklin Roosevelt in 1932. Roosevelt responded quickly with new policies, meant to increase the employment and rescuer of the economy. These politicians quickly gained popularity and became known as New Deal.

The new agreement included temporary programs of auxiliary resources for unemployed and focused on rewriting federal rights to improve the way banks and corporations were operated. One of the main forGrams were the Progress Administration Administration (WPA), which created millions of government jobs dedicated to public projects such as road and bridge building. WPA also created thousands of jobs for artists through government programs aimed at supporting art, such as a federal theater project. The new agreement also canceled the ban, a constitutional change forbidding alcohol in the United States, to great recognition.

Although the economy did not start full of recovery until the Second World War has created the need for a huge war industry, the election of President Roosevelt and his huge response to the crisis are often credited as a change in the mood of the country and re -filing hope to millions of unemployed and suddenly wicked citizens. Some compared the elections of US President Barack Obama from 2008 with the election of Roosevelt and quoted that both of them were taking place at a time of serious economic decline in the message. While most economists believe that the recession of 2008 will not create a crisis so weightIt lives as a great depression, the ability of the government of President Obama to turn the falling economic influx will undoubtedly face a constant comparison with the inspiring and historical work of President Roosevelt.