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The phrase 'when the US sneezes the world catches a cold' says it all. The economic knock on effects of the 1930s affected the whole decade worldwide. The irony was that it was World War 2 which changed things in many ways. For the most part there are no winners in a depression, we all get poorer. It's hard to believe but even the poorest of the poor get poorer and the wealthy are less willing and less able to help the poor, either in a national or individual circumstances.

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Q: Did the great depression only affect the US or did it affect all nations?
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Was the great depression the only depression to affect the US?

Once we finish this "recession" we will be calling the last few years the "Greater Depression".


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