Economic crisis happened in 1930s is considered as one among the most studied periods about the American history and the facts about great depression timeline are interesting to study. Scholars have examined and collected the information about the economic calamities happened at all angles and provides collective information about the facts of depression. Some sayings and products we use today are the roots of the great depression. The great depression timeline was a decade before when the unprecedented financial crisis affects the countries in Western Europe, North America and other areas that are industrialized. A catastrophic collapse in the stock prices on New York exchange in the year 1929 at October is considered as the momentum for great depression in the country America. From the period of crash in the stock market continued to have fallen in stock prices until 1932. Economists and historians estimated that the stock prices have declined to 89 percent. This results in, many banks were forced to the state of insolvency and thousands of money investors went bankrupt.
Before the 1929 depression, nearly 25,000 banks performed in United States. Only 11,000 banks were operated in the year 1933. With many number of banks in default, people of United States stopped and reduced their spending due to the economic downturn. Less spending leads to lesser demands for the goods. These factors lead to have a negative impact on the production levels and this finally leads to unemployment. Scholars have estimated that nearly 25 to 30 percent of people were left unemployed in 1932. This is considered to be a great depression timeline in America. This great crisis is one among the significant events that people will study in the history of United States. However, this great depression creates negative impact on other countries. After the end of world war one, US served as the major creditor for this stage especially among the countries in Europe. When the economy in America gets declined, a worldwide depression occurred.
In the year 1932, Franklin D. Roosevelt made some changes in the economic structure of the country by increasing the government regulations among public work projects and financial institutions to spur recovery. As a result, massive unemployment occurred and economy of the country continued to struggle. At the time of world war two in 1939, the great depression timeline statistics have said that 15 percent of work force in America remained unemployed. American factories started to receive orders from European countries for weapons and arms after world war two get started. This helps the nation to get out from the great depression. It is tough to explain depression without recollecting the happenings of the great depression happened in 1930s. The great depression of 1930s is very important to be studied by all of us because it symbolized the world witnessed a great decline in assets that led to loss of accumulated capital worldwide. Learning about the great depression can help people to understand well how this event helped in shaping the 20th century.