Inside The Meltdown: Major Causes Of The Great Depression

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Inside the Meltdown Till this day people still find the reasons of what triggered the economic meltdown. Americans today are facing this severe problem with the economy. It happened back then with the bank crash in 1929 which was one of the causes of the Great Depression , then a Great Recession in 2008, and to say the least the downfall of what has been happening to us Americans for a long time now. This is like a cycle. We have downfall and then we pick things back up and everything gets better. But , just when things get better, it happens to get worse again. Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, 1929 is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression. Two months after the original crash in October, stockholders had lost more than $40 billion dollars. Even though the…show more content…
In 1933, all of the banks throughout the country were closed for a four-day period, and 4,000 banks closed permanently. The act was originally part of President Franklin D. Roosevelt’s New Deal program and became a permanent measure in 1945. Just when things started to get good ,we have another downfall. The Great Recession of 2008 had many causes. The first major cause was stagnating oil prices (easily surpassing the $ 100 a barrel), driven by geopolitical uncertainties, the collapse of stock markets and subsequent diversion of speculative investment market and the expected oil production cuts by the OPEC. Second, was Continued escalation of prices of staple
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