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The great depression

The Great Depression was a time of unemployment, bankruptcy, and sadness. It lasted nearly a decade and many lives were hurt by the effects that came from it. For example a teacher told a child to go home and get something to eat and he replied,” I cant this is my sister’s day to eat.”1 It just goes to show what they went through, and that people were so hungry that they had to get what they wanted the wrong way, even though they knew it was not right.
The Great Depression was called this for three main reasons. One reason was that
it lasted longer than any other depression in the world. Second, it was more severe because of the economic drop and the very severe unemployment rate. The third and main reason was that it was a world depression not just one nation.2
Before the Great Depression started the economy was doing very well and production was also doing well. Custom-made vehicles were selling for ten-thousand dollars, and there were millions of new stockholders such as: clerks, housewives, and truck drivers. The markets couldn’t have been better, and then by Christmas of 1928 many business began to slow down.






The markets slowed down, cars weren’t selling as fast, and warehouses became very full as well.
The markets had reached an all-time high in the beginning of September. Then two days later there was a slight downfall in the market. On October 24, 1929, the first disaster hit. A total of 12,849,650 shares were taken off the market.
On October 29, 1929, there was a major decrease in the stocks and the markets collapsed. This day became known as Black Tuesday. In the New York Stock Exchange, sixteen million shares were lost because of the crash. Many people lost money and didn’t know how to react when it happened.
There were many things suspected to have caused the Great Depression. One of these things, was the...