What is going to happen, economically?

The Great Depression in the United States began on "Black Tuesday" with the Wall Street Crash of 1929 and rapidly spread elsewhere. The market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation and lost opportunities for economic growth and personal advancement in the United States. Although the causes of the Great Depression are still uncertain, the basic cause was a sudden loss of confidence in the economic future. Many economists agree with Geogre Bushes's argument that blames the length of the depression, but not its cause, on an unwillingness by the Federal Reserve System to help banks avoid runs on their deposits. The traditional explanation of a combination of high consumer and business debt, ill-regulated markets that permitted malfeasance by banks and investors, growing wealth inequality, and natural disasters such as the Dust Bowl and 1926 Miami Hurricane creating a downward economic spiral of reduced spending and production are also offered as alternative explanations

1929
Herbert Hoover becomes President.
Annual per-capita income is $750. More than half of all Americans are living below a minimum subsistence level.
Backlog of business inventories grows three times larger than the year before.
Recession begins in August, two months before the stock market crash. During this two month period, production will decline at an annual rate of 20 percent, wholesale prices at 7.5 percent, and personal income at 5 percent.
Stock market crash begins October 24. Investors call October 29 Black Tuesday. Losses for the month will total $16 billion, an astronomical sum in those days.

1930

By February, the Federal Reserve has cut the prime interest rate from 6 to 4 percent. Treasury Secretary Andrew Mellon announces that the Fed will stand by as the market works itself out: 'Liquidate labor, liquidate real estate... values will be adjusted, and enterprising people will pick up the wreck from less-competent people'.
The Smoot-Hawley Tariff passes on June 17. With imports forming only 6 percent of the GNP, the 40 percent tariffs work out to an effective tax of only 2.4 percent per citizen. Even this is compensated for by the fact that American businesses are no longer investing in Europe, but keeping their money stateside. The consensus of modern economists is that the tariff made only a minor contribution to the Great Depression in the U.S., but a major one in Europe.
Supreme Court rules that the monopoly U.S. Steel does not violate anti-trust laws as long as competition exists, no matter how negligible.
The GNP falls 9.4 percent from the year before. The unemployment rate climbs from 3.2 to 8.7 percent.
1931

No major legislation is passed addressing the Depression.
The GNP falls another 8.5 percent; unemployment rises to 15.9 percent.

1932

This and the next year are the worst years of the Great Depression. For 1932, GNP falls a record 13.4 percent; unemployment rises to 23.6 percent.
Industrial stocks have lost 80 percent of their value since 1930.
10,000 banks have failed since 1929, or 40 percent of the 1929 total.
GNP has also fallen 31 percent since 1929.
Over 13 million Americans have lost their jobs since 1929.
International trade has fallen by two-thirds since 1929.
Congress passes the Federal Home Loan Bank Act and the Glass-Steagall Act of 1932.
Top tax rate is raised from 25 to 63 percent.
Popular opinion considers Hoover's measures too little too late. Franklin Roosevelt easily defeats Hoover in the fall election. Democrats win control of Congress.