The Great Depression was a period of unprecedented decline in economic activity. It is generally agreed to have occurred between 1929 and 1939. Although parts of the economy had begun to recover by 1936, high unemployment persisted until the Second World War.
<span>The 1920s witnessed an economic boom in the US (typified by Ford Motor cars, which made a car within the grasp of ordinary workers for the first time). Industrial output expanded very rapidly. Sales were often promoted through buying on credit. However, by early 1929, the steam had gone out of the economy and output was beginning to fall.The stock market had boomed to record levels. Price to earning ratios were above historical averages.The US Agricultural sector had been in recession for many more years<span>The UK economy had been experiencing deflation and high unemployment for much of the 1920s. This was mainly due to the cost of the first world war and attempting to rejoin the Gold standard at a pre world war 1 rate. This meant Sterling was overvalued causing lower exports and slower growth. The US tried to help the UK stay in the gold standard. That meant inflating the US economy, which contributed to the credit boom of the 1920s.
</span></span>During September and October a few firms posted disappointing results causing share prices to fall. On October 28th (Black Monday), the decline in prices turned into a crash has share prices fell 13%. Panic spread throughout the stock exchange as people sought to unload their shares. On Tuesday there was another collapse in prices known as 'Black Tuesday'. Although shares recovered a little in 1930, confidence had evaporated and problems spread to the rest of the financial system. Share prices would fall even more in 1932 as the depression deepened. By 1932, The stock market fell 89% from its September 1929 peak. It was at a level not seen since the nineteenth century.
<span>Falling share prices caused a collapse in confidence and consumer wealth. Spending fell and the decline in confidence precipitated a desire for savers to withdraw money from their banks.</span>
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The plague had large scale social and economic effects, many of which are recorded in the introduction of the Decameron. People abandoned their friends and family, fled cities, and shut themselves off from the world. Funeral rites became perfunctory or stopped altogether, and work ceased being done
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a) through attrition and massive advances on several fronts
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American Civil War or simply Civil War in the United States was a war (although Congress never issued a Declaration of War) waged in the United States from 1861 to 1865. As a result, among other things, a historical controversy over slavery and against of the attempts of the American federal executive to take powers that did not correspond to him in a constitutional manner, the war broke out in April 1861, when the forces of the Confederate States of America attacked Fort Sumter in South Carolina, shortly after President Abraham Lincoln assumed his position. The nationalists of the Union proclaimed loyalty to the Constitution of the United States. They clashed with secessionists from the Confederate States, who defended the rights of states to expand slavery.
Communism expanded. At the end of the war, North Vietnam conquered South Vietnam in 1975. The north and south united under one government. Communism spread and is one of the few remaining communist countries.
An exclave is a portion of a state or territory geographically separated from the main part by surrounding alien territory (of one or more states). Many exclaves are also enclaves. Enclave is sometimes used improperly to denote a territory that is only partly surrounded by another state.
