תרגול של אנסין – #2

The 1920s, often called the “Roaring Twenties,” was a decade of economic prosperity in the United States and much of the Western world. Industries expanded, stock prices soared, and consumer culture flourished. However, this period of financial optimism masked deep economic weaknesses, including overproduction, excessive speculation, and growing income inequality.

On October 29, 1929, a day now known as “Black Tuesday,” the stock market crashed. Panic spread as investors rushed to sell their stocks, causing prices to plummet. Banks failed, businesses collapsed, and millions of people lost their jobs almost overnight. The financial devastation in the U.S. quickly spread worldwide, triggering a global economic crisis known as the Great Depression.

Unemployment rates skyrocketed, with over 25% of the American workforce left without jobs. Breadlines and homeless camps became common sights in major cities. Governments struggled to respond, as traditional economic policies failed to halt the crisis. In 1933, U.S. President Franklin D. Roosevelt introduced the New Deal, a series of programs aimed at providing jobs, stabilizing the economy, and reforming the banking system.

The Great Depression had long-lasting effects on the global economy. It led to stricter financial regulations, increased government involvement in economic policies, and significant social changes. The crisis only ended with the onset of World War II, which revitalized industries by increasing demand for military production.