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The Great Depression was a severe worldwide economic depression that lasted from 1929 to 1939. It started in the United States after the stock market crash of October 1929, which caused a loss of wealth and confidence in the economy. The effects of the Great Depression were felt in many countries around the world, leading to high unemployment rates, poverty, and a decline in industrial production. The Great Depression was caused by a combination of factors, including overproduction, unequal distribution of wealth, and a speculative bubble in the stock market. The crash of the stock market in 1929 triggered a downward spiral, as people lost their savings and businesses were unable to repay their debts. Banks failed, leading to a further decline in economic activity and a contraction in the money supply. During the Great Depression, unemployment rates soared, with millions of people losing their jobs. This led to widespread poverty and a loss of confidence in the future. Many people were unable to afford basic necessities, such as food and shelter, and had to rely on government assistance or charity to survive. The Great Depression also had a profound impact on society and politics. In the United States, President Franklin D. Roosevelt implemented a series of programs known as the New Deal to stimulate the economy and provide relief to those
