were poor and thought they would have better opportunities in the US. For them the American dream was that talent and hard work could take them from log cabin to White House 3. Depression days: the period of severe economic failure in most countries of the world that lasted from 1929 until World War II. It began in the US when the New York Stock Exchange fell on 29 October 1929 known as black tuesday. many businesses and banks failed and millions of people lost their jobs. Presidentwere poor and thought they would have better opportunities in the US. For them the American dream was that talent and hard work could take them from log cabin to White House. 3. Depression days: the period of severe economic failure in most countries of the world that lasted from 1929 until World War II. It began in the US when the New York Stock Exchange fell on 29 October 1929, known as Black Tuesday. Many businesses and banks failed and millions of people lost their jobs. President