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The Great Depression was between WW1 and WW2. The Stock Market collapsed in September 4th 1929 right after the market saw a massive high. This high encouraged banks into investing heavily into stocks. And many of them failed.

In the summer of 1930s the market had recovered by 30%. But then again in July 1932 the market dropped to a point just like that of 1929. The drop was actually more massive.

By 1933, the unemployment rate had climbed from 3% to 25%.

The Great Plain States were hit even harder than other states. This is because they were hit by a severe drought. This is where the term "Dust Bowl" originated.

Only massive spending by the federal government in the build up to WW2 rebuilt the country, making it a world power.

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11y ago

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