FYI: The Great Depression is endlessly fascinating to me because I can’t imagine something like that happening in modern times in the U.S.
The Great Recession was the worst financial crisis we’ve seen since the 1930s but it was child’s play compared to that period. The Great Recession saw GDP decline 5.1% with the unemployment rate reaching 10% at its peak.
The Great Depression experienced a GDP decline of nearly 27% with a high unemployment rate of 25%. The downturn technically ended in 1932. In that year, wages fell 60% while stock market dividends were slashed 57%.
The images that come to mind when I think about the Great Depression are bread lines, panic on Wall Street, and angry mobs in Washinton DC.
Regards,
Ted
https://awealthofcommonsense.com/2019/02/insert-your-economic-story-here/
