Question: Who Were The Hardest Hit By The Great Depression?

Why did the Great Depression hit Germany so hard

Germany was, indeed, especially hard-hit by the Great Depression.

A major factor was the Treaty of Versailles, which was supposed to settle outstanding disputes following the cessation of hostilities in World War I.

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Germany reeled from the huge burden of reparations payments required of it as a condition of the treaty..

What was life like in Germany during the Great Depression

The Great Depression was particularly severe in Germany, which had enjoyed five years of artificial prosperity, propped up by American loans and goodwill. Unemployment hit millions of Germans, as companies shut down or downsized. Others lost their savings as banks folded.

Who profited from great depression

Joseph Kennedy, Sr.: Stocks, Movies and Spirits 1930s. Seated from left, Robert Kennedy, Edward Kennedy, Joseph P Kennedy Sr, Eunice Kennedy, Rosemary Kennedy, and Kathleen Kennedy; standing from left, Joseph P Kennedy Jr, John F Kennedy, Rose Kennedy, Jean Kennedy, and Patricia Kennedy. Joseph Kennedy, Sr.

How long did the Depression last

43The Great Depression/Duration (months)

What industries were hardest hit by the Great Depression

Industries that suffered the most included agriculture, mining, logging, durable goods, construction, and automobiles. The depression caused major political changes including President Herbert Hoover’s loss in the presidential election of 1932 to Franklin Roosevelt.

Which country was worst hit by the Great Depression

The Great Depression which followed the US stock market crash of 1929 badly affected the countries of Latin America. Chile, Peru, and Bolivia were, according to a League of Nations report, the countries worst-hit by the Great Depression.

What assets did well in the Great Depression

The bottom line is that if we were heading into another deflationary depression the best assets to own are default-free Treasury bills and Treasury bonds, with some other very high quality fixed income securities thrown into the mix.

What started the Depression

It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.

How did America get out of the Great Depression

The Great Depression was a worldwide economic depression that lasted 10 years. GDP during the Great Depression fell by half, limiting economic movement. A combination of the New Deal and World War II lifted the U.S. out of the Depression.

What city was most affected by the Great Depression

Throughout the industrial world, cities were hit hard during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities (as world trade fell) and cities that depended on heavy industry, such as steel and automobiles. Service-oriented cities were hurt less severely.

How did Germany recover from Great Depression

And crucial to Germany’s recovery was government spending, much of it on public works, the most visible of which was a new highway system – the autobahn – which the army wanted for more efficient movements within Germany. There was also an electrification program, and government investment in industry.

What was life like during the Depression

The average American family lived by the Depression-era motto: “Use it up, wear it out, make do or do without.” Many tried to keep up appearances and carry on with life as close to normal as possible while they adapted to new economic circumstances. Households embraced a new level of frugality in daily life.

How did us recover from Great Depression

World War II played only a modest role in the recovery of the U.S. economy. … This expansionary fiscal and monetary policy, together with widespread conscription beginning in 1942, quickly returned the economy to its trend path and reduced the unemployment rate to below its pre-Depression level.

What was the most successful business during the Great Depression

Procter & Gamble. The Great Depression was trying for most consumer product companies, but Procter & Gamble came out of the whole ordeal smelling better than it had in 1929.

Who was the hardest hit by the Great Depression

The poor were hit the hardest. By 1932, Harlem had an unemployment rate of 50 percent and property owned or managed by blacks fell from 30 percent to 5 percent in 1935. Farmers in the Midwest were doubly hit by economic downturns and the Dust Bowl.

What group did the Great Depression affect the most

As difficult as the economic crisis of the Great Depression was for white Americans, it was even harder on racial minorities, including black Americans, Mexican Americans, American Indians, and Asian Americans.