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Great Depression

             The Great Depression of the 1930's was a worldwide phenomenon composed an infinite number of separate but related events. The Great Depression was a time of poverty and despair caused by many different events. There were a variety of things wrong with the economy going into 1929, and they had been deteriorating throughout the decade. Over 25% of the work force was unemployed. Over half of the population was living in poverty. .
             On October 24, 1929 the stock market crashed which led to Black Thursday. The events that triggered a worldwide depression that led to deflation and a great increase in unemployment. .
             America was able to withstand the war because of the New Deal and World War II. Thanks to President Roosevelt, who initiated a number of government programs to increase liquidity and provide jobs, which jointly are called the New Deal. I believe that the New Deal help bring the country out of the depression. Roosevelt also declared the "Bank Holiday" that would close all the United States banks and freeze all financial transactions in order to stop the run on bank deposits. When the banks were allowed to open, depositors found that they would never again be allowed to withdraw the gold that they had deposited. By closing the banks it would reduce the rate of bank closures, and allow the government to finance further "New Deal" programs. .
             During World War II, the US moved to full employment through the massive military investments, but also by shifting a very large percentage of the potential workforce into the military. When World War II ended the President had to make some adjustments considering that millions of troops were going home. So that is when he initiated the G.I. Bill, the bill was to ease the transition. In which it did. While researching wars that has gone on in the past war is always profitable to a particular business, it causes social and economic dislocations that outweigh and stimulus effects it might have.

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