WORLD HISTORY

Detailed explanation-1: -In October of 1929, the stock market crashed, wiping out billions of dollars of wealth and heralding the Great Depression. Known as Black Thursday, the crash was preceded by a period of phenomenal growth and speculative expansion.

Detailed explanation-2: -The Great Depression began in 1929 when, in a period of ten weeks, stocks on the New York Stock Exchange lost 50 percent of their value. As stocks continued to fall during the early 1930s, businesses failed, and unemployment rose dramatically.

Detailed explanation-3: -What circumstances conspired to cause the Dust Bowl? Economic depression coupled with extended drought, unusually high temperatures, poor agricultural practices and the resulting wind erosion all contributed to making the Dust Bowl. The seeds of the Dust Bowl may have been sowed during the early 1920s.

Detailed explanation-4: -Ironically, it was World War II, which had arisen in part out of the Great Depression, that finally pulled the United States out of its decade-long economic crisis.

Detailed explanation-5: -By then, production had already declined and unemployment had risen, leaving stocks in great excess of their real value. Among the other causes of the stock market crash of 1929 were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.