What problems happened during the Great Depression?

Answer 1

During the Great Depression, which started in 1929, the U.S. and global economies faced unprecedented challenges, including soaring unemployment rates, widespread bank failures, and a dramatic decline in industrial production. Many families lost their savings and homes, leading to increased poverty and homelessness. Agricultural prices plummeted, causing rural distress and contributing to events like the Dust Bowl. The economic crisis also fueled social unrest and political instability, prompting significant government intervention and reforms.