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The Great Depression began in the United States of America and quickly spread worldwide. [42] It had severe effects in countries both rich and poor. Personal income, consumption, industrial output, tax revenue, profits and prices dropped, while international trade plunged by more than 50%.
Two years ago, a student at the University of Michigan asked Berkshire Hathaway (NYS: BRK.B) Vice Chairman Charlie Munger to compare the 2008 financial crisis to the Great Depression. Munger, as ...
The Great Depression was a severe global ... In the face of bad loans and ... Exports from all of Latin America to the U.S. fell in value from $1.2 billion in 1929 to ...
Economists first named a period of time the Great Depression in 1893. In 1933 they changed their minds. Throughout modern economic history, the business cycle has experienced an abnormally severe ...
The Great Depression: The United States in the Thirties, Fawcett Publications, 1968; D. A. Hayes, "Business Confidence and Business Activity: A Case Study of the Recession of 1937," Michigan Business Studies v 10 #5 (1951) Meltzer, Allan H. (2003). A History of the Federal Reserve – Volume 1: 1913–1951.
The Great Depression was the worst economic crisis in US history. More than 15 million Americans were left jobless and unemployment reached 25%. 25 vintage photos show how desperate and desolate ...
Differences explicitly pointed out between the recession and the Great Depression include the facts that over the 79 years between 1929 and 2008, great changes occurred in economic philosophy and policy, [9] the stock market had not fallen as far as it did in 1932 or 1982, the 10-year price-to-earnings ratio of stocks was not as low as in the ...
During the Depression, a piece of cardboard or a new rubber sole may have extended the wear of a pricey pair, and clothes were certainly mended and patched long before they were ever thrown out.