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LESSON 1 · Crashes, Bubbles & Bailouts

The Human Cost

Beyond the statistics, the Depression tore apart lives and communities. Families lost their homes. Children went hungry. Men who had provided for their families for decades suddenly could not find any work.

The psychological scars lasted generations. People who lived through the Depression saved every spare cent and distrusted banks for the rest of their lives. Their children inherited these anxieties, creating a cultural legacy of caution that shaped American attitudes toward money for decades.