Great Depression in the United States
The Great Depression began in August 1929, when the United States economy first went into an economic recession. Although the country spent two months with declining GDP, it was not until the Wall Street Crash in October 1929 that the effects of a declining economy were felt, and a major worldwide economic downturn ensued. The stock market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth as well as for personal advancement. Altogether, there was a general loss of confidence in the economic future.
History of the United States
In the Depression years, the United States remained focused on domestic concerns while democracy declined across the world and many countries fell under the control of dictators. Imperial Japan asserted dominance in East Asia and in the Pacific. Nazi Germany and Fascist Italy militarized and threatened conquests, while Britain and France attempted appeasement to avert another war in Europe. U.S. legislation in the Neutrality Acts sought to avoid foreign conflicts; however, policy clashed with increasing anti-Nazi feelings following the German invasion of Poland in September 1939 that started World War II. Roosevelt positioned the U.S. as the "Arsenal of Democracy", pledging full-scale financial and munitions support for the Allies – but no military personnel. This was carried out through the Lend-Lease agreements. Japan tried to neutralize America's power in the Pacific by attacking Pearl Harbor on December 7, 1941, which catalyzed American support to enter the war.