Answer:
The Great Depression was a long and extensive economic crisis, affecting most developed nations in the early and mid-1930s. The Great Depression was particularly severe in Germany, which had enjoyed five years of artificial prosperity, propped up by American loans and goodwill. Unemployment hit millions of Germans, as companies shut down or downsized.
Extra info:
Others lost their savings as banks folded. The prelude to the Great Depression occurred in the United States, which had enjoyed years of prosperity and inflated confidence. The 1920s had been a boom decade for American companies, which tallied up record production figures, skyrocketing sales and millions of dollars profit.
These profits were passed onto shareholders, who also benefited from sharp increases in share prices. Thousands of Americans rushed to take advantage of the share market, many using their life savings or borrowing against their assets to take advantage of the boom.
These dramatic increases in profits and share prices could not be sustained forever. By 1928, there was considerable over-production in many American industries, leading to declining sales and falling profits.
Explanation:
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