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The Great Depression (1929-1939) The Great Depression (1929-1939) was a severe global economic crisis starting with the U.S. stock market crash on October 29, 1929, known as Black Tuesday. Over-speculation (risky investments) and excessive borrowing (large loans for stocks) led to inflated stock prices. When the market crashed, many couldn't repay their loans, causing widespread bank failures . This crash eroded consumer confidence , reducing spending and investment. The money supply contracted as banks failed, making credit scarce. The Smoot-Hawley Tariff Act (raised U.S. import taxes) worsened global trade, and severe droughts (prolonged dry periods) hit U.S. agriculture. Unemployment soared, and poverty spread. President Franklin D. Roosevelt's New Deal (government programs) aimed to provide relief (aid), recovery (economic revival), and reform (prevent future crises).
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What If the USA Filed for Bankruptcy Today? If the United States declared bankruptcy today, the immediate effect would be catastrophic. The value of the U.S. dollar would plummet, triggering a global financial crisis. Banks worldwide would face inso
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Sauna works as well as antidepressants and will help defeat depression In the U.S. scientists for a month they treated people with cognitive behavioral therapy and sessions in the sauna. As a result, 90% of the participants managed to dull the sympto
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What happening in the US ? Major U.S. retailers, including Rite Aid, Dollar Tree, Family Dollar, and CVS, have announced plans to close numerous store locations due to economic pressures such as inflation, rising labor costs, and the growth of e-co
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We Have a Breakthrough - The U.S. National Debt Has Surpassed $35 Trillion. ๐ Since January 2020, the U.S. economy has grown by 31%, while the debt has increased by 50%. The borrowing rate exceeds the real economic growth, and the U.S. is clearly l
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The Reserve Bank of India (RBI) reduced the repo rate by 25 basis points to 6.25%, the first rate cut in nearly five years. What is the repo rate? Itโs the rate at which the RBI lends money to commercial banks. A lower repo rate means cheaper loans
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"Manmohan Singhโs Landmark 1991 Budget Speech: The Dawn of a New India" Manmohan Singhโs Historic 1991 Budget Speech: A Turning Point in Indiaโs Economic Journey On July 24, 1991, then Finance Minister Dr. Manmohan Singh delivered a landmark budget
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Do you Know that One in Three students from Higher Educational Institutes experience moderate to severe Stress levels ? The Union Finance Minister, Ms Nirmala Sitharaman, highlighted mental health in the Economic Survey of India for 2023-2024. The s
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