The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s. It was the longest, most widespread, and deepest depression of the 20th century, and is used in the 21st century as an example of how far the world's economy can decline. The depression originated in the United States, starting with the stock market crash of October 29, 1929 (known as Black Tuesday), but quickly spread to almost every country in the world.
The Great Depression had effects in virtually every country, rich and poor, although the negative impact did vary. The Soviet Union, which had withdrawn from the world economy in the 1920s, was relatively insulated. Germany, which was already hurting from the war reparations imposed upon it after World War I, saw its industrial base heavily impacted. The Depression played a part in the rise of the Nazi Party. The United States and the United Kingdom saw increased government intervention to stabilize their respective economies.
Countries started to recover by the mid-1930s, but in many countries the negative effects of the Great Depression lasted until the start of World War II.
Great Depression in The House of DanielEdit
When the Big Bubble burst, the world's economy collapsed.
Great Depression in Joe SteeleEdit
California Democrat Joe Steele used the Great Depression as a spring board to the White House. Steele implemented several work projects and a Four Year Plan. Steele also cracked down on all opposition to this plans as he consolidated absolute power for himself.
Great Depression in Southern VictoryEdit
The Great Depression resulted from the stock market crash of 1929 and spread to every country in the world except China and various colonies in Africa. It was caused by the stock market 'bubble' that had grown during the 1920s, and was triggered by Russia's inability to repay a loan to Austria-Hungary.
Although no single person was responsible for the resulting depression, most of the incumbent political leaders of world took the blame when their respective policies proved incapable of effectively solving the problem. In the United States, for example, President Hosea Blackford, was soundly defeated when he ran for re-election against Calvin Coolidge in 1932. Coolidge's running mate, Herbert Hoover (who served the term to which Coolidge had been elected thanks to Coolidge's untimely death), was in turn decisively defeated by Al Smith when Hoover's own economic recovery policies likewise failed. In the Confederate States, President Burton Mitchel and his political party, the Whigs, took the blame. Jake Featherston and the Freedom Party used the Confederate depression to agitate the previously content Confederate voters into electing him President.
Similar patterns played out in Britain, where the upstart Silver Shirts forced the Conservative Party to take a hard political line when they elected Winston Churchill as Prime Minister; and in France, where Action Francaise brought down the Third Republic and elevated King Charles XI.