When the stock market collapsed on Wall Street in October, 1929, it sent financial markets worldwide into a meltdown this was tragic for the German economy. The German economy was vulnerable because it relied on loans from America and exports to fuel it. German workers were laid off. Along with this, banks failed. Inflation soon followed making it hard for families to purchase expensive necessities with devalued money.
Many historians believe that the immediate cause of The Great Depression was the Stock Market Crash in the fall of 1929. That event occurred on October 29, 1929; also known as Black Tuesday. It also marked the end of the era known as The Roaring Twenties. On that day stocks plummeted to an all-time low, causing mass devastation. However like history has shown, a time of economic prosperity, like the Roaring Twenties, result in a depression.
The economy plummeted and everyone felt the effects of it .The severe downfall of the American economy in the 1930’s known as the Great Depression was the result of speculation and installment buying, income maldistribution, and overproduction throughout America. After the roaring 20’s, speculation and installment buying drastically increased
However it can be argued that the roots of Hitler’s appointment as Chancellor in January 1933 lie in the disaster of the Wall Street Crash of 1829 and the subsequent depression. This economic crash and the rise in unemployment had the important effect of further polarising German politics. The fact that Germany’s growth in the 1920’s had been funded by American capital which was now forced to withdraw hit Germany’s industry hard. Furthermore it was unemployment and the consequential insecurity that so undermined confidence in the present structures. By 1933 over 6 million German workers were unemployed.
How important was the Wall Street crash as a cause of the Great Depression in the U.S.A The great depression was a financial crisis that affected most of the developed world throughout the1930’s. Even though the start of it can be seen at the end of 1929 most countries didn’t really feel it until the 1930’s. Also when it ended varied from all different countries some seeing recovery by the late 1930’s and don’t see it until 1940. The Wall Street crash (October 1929) and the great depression are two separate events. Although seen as similar or maybe the same they are not as the Wall Street crash is quite simply just one of many factors for the great depression ( The longest and most destructive recession of the 20th centaury)!
“The Great Depression was the most important reason for the outbreak of WWII”. First of all, to what caused the Great Depression was a number of things. In 1929 the stock market crashed completely. As a result of this thousands of people lost their jobs and became unemployed. Even more so, people became homeless and started begging on the streets.
The Beginning of the Great Depression One of the most historical events took place from 1929 thru the 1930’s. It took place in one city, but it affected the whole country of America. This well known episode is described as the first era of The Great Depression. The one situation that sparked this chaotic event was the major stock market crash that occurred on October 29, 1929. (Rothbard &Newton, Intro) During this time Herbert Hoover was president and the American culture was spiraling out of control.
The Great Depression was the longest lasting economic decline in the history of the United States. After the stock market crash of October 1929, the Great Depression followed. The event caused Wall Street to go into complete dismay, and wiped out millions of banks. For the next decade, social fabric was changed as well as the role of government. For example, spending was lessened and investment was dropped.
The Great Depression All economies experience both expansionary and recessionary periods throughout their history. However, until most recently, the one recession that has had a well-known impact around the world is “The Great Depression of 1929”. The Great Depression is a great example of how horribly the world’s economy can collapse. This recessionary period is directly correlated with the United States Stock Market Crash on October 29, 1929 which is also known as “Black Tuesday.” This recession affected industrialized countries worldwide making it become a global recession. The main misconception of The Great Depression is that it was a sudden and consistent collapse in the stock market.
Effects and Results of the Great Depression During the year of 1929 a tragic event happened that affected the United States of America for the worst. This event is known as the American Great Depression. It was a crash in the stock market that sent the United States into an economic downfall of the greatest proportion. This occurrence lasted from 1929 up until 1941, when the United States supposedly wasn’t in the war. Thus these are basic events leading to and resulting from the stock market crash of 1929.