A Study of The Impact of Us Subprime Crisis on Indian Financial Sector
Today’s economy is the globalised economy. None of the economies, today, is entirelyand independent economy. Various day-today phenomena in one economy affect theother directly or indirectly. What caused the Great Depression, the worst economicdepression in US history? It was not just one factor, but instead a combination of domestic and worldwide conditions that led to the Great Depression. As such, there is noagreed upon list of all its causes. Here instead is a list of the top reasons that historiansand economists have cited as causing the Great Depression. The effect of the GreatDepression was huge across the world. Not only did it lead to the
in America but more significantly, it was a direct cause of the rise of extremism in Germany leadingtoWorld War II.
1. Stock Market Crash of 1929
Many believe erroneously that the stock market crash that occurred on Black Tuesday,October 29, 1929 is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression. Two months after the original crash inOctober, stockholders had lost more than $40 billion dollars. Even though the stock market began to regain some of its losses, by the end of 1930, it just was not enough andAmerica truly entered what is called the Great Depression.The
was a severe worldwideeconomic depressionin the decade precedingWorld War II. The timing of the Great Depression varied across nations, but inmost countries it started in about 1929 and lasted until the late 1930s or early 1940s. Itwas the longest, most widespread, and deepest depression of the 20th century. In the 21stcentury, the Great Depression is commonly used as an example of how far the world'seconomy can decline. The depression originated in the U.S., starting with the fall in stock prices that began around September 4, 1929 and became worldwide news with thestock market crashof October 29, 1929 (known asBlack Tuesday). From there, it quickly
spread to almost every country in the world. The Great Depression had devastatingeffects in virtually every country, rich and poor.Personal income, tax revenue, profits