AUGUST 1929 - JUNE 1938 (110 months)

The Great Depression is among the greatest financial catastrophes to hit the world in all of history. Stock market crashes all over the world were one of the first stages of the depression. Then, a banking collapse took place in America, and thousands upon thousands lost work. Some people lost everything when the stock markets crashed.

People who had a lot invested ended up mostly with nothing. In fact, some investors and stock traders lost their lives to the conflict, unable to go on with the realization that they were not worth anything in the stock crash.

All of these things worked together to start a global downturn that caught the entire world up in its vertical spiral downward. Businesses closed, workers ran out of work, the stocks were worthless, and even the richer class Americans suffered some from the financial catastrophe that was the Great depression.