Comparing The Great Depression And The Recession

The Great Depression and the Recession of 2008 were both memorable events in US history. These events both dealt with financial issues within the US government, within stock markets and the home market. The Great Depression took place in October 29, 1929. Later on, another disaster hit in December, 2007 called the Recession of 2008. Both of these events were caused by bad financial status but they are also different including the work issues and values, presidents and the duration and finally consequences, significances and important people during the crisis. The Great Depression started in 1929 and ended in 1939, almost ten years later. This event was the worst and longest economic problem in the Western industrialized world. During this time, the president was President Franklin Roosevelt. As the president he was a major help to the US as he tried to help the effects off the event (Economic). One part of this time that really helped the economy was World War II. Although a war is not a good thing, this really helped to employ people with making items for war (History.com). This helped the employment a great amount. During the Recession of 2008, the president was President Bush. As the …show more content…
During this time there was a decrease in spending within the market, which then lead to employees being laid off within businesses. In 1933, the worst of the unemployed occurred with over 15 million being laid off (History.com). The Recession of 2008 was very similar to the Great Depression. This event happened because of a $8 trillion housing bubble (Economic). The loss was due to less spending within the housing market and cause the market to crash. This event has less jobs lost than the Great Depression but still stood at about 8.4 million jobs that were lost. As the family incomes dropped there was a significant insure loss as