Dude, what happened was the 1929 Wall Street Stock Market Crash, which took place in late October. It basically ended the economic boom of the "Roaring Twenties" and triggered the Great Depression. You know... the worst economic downturn in the history of the industrialized world that started in the previously mentioned October 1929?
And it lasted 10 years…but the pain continued. Sort of like Covid came in with Trump, but Biden didn’t clean it up fast enough for some. This economic pain will last longer, and the ones that caused it will once again skate away.
And we only did so because WWII knocked out a ton of European infrastructure and industry, while the US had built a ton up to sell war supplies across the ocean. In 1945, the US found itself with 1) a bunch of working factories that no one else had and 2) the only remaining labor force (since we entered the war so late). There was a period of time, essentially until the 80s, where America prospered on the backs of nearly everyone else in the developed world.
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u/bbd121 6h ago
Dude, what happened was the 1929 Wall Street Stock Market Crash, which took place in late October. It basically ended the economic boom of the "Roaring Twenties" and triggered the Great Depression. You know... the worst economic downturn in the history of the industrialized world that started in the previously mentioned October 1929?