The Failure Of The Economy In The 1920's

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In the late 1920’s a change in the economy started, this change is now known as The Great Depression. The downfall of the economy started with banks and stock-market insecurity, and halted with President Franklin Delano Roosevelt’s New Deal. This revolutionary reform attempted to improve our nation by re-establishing American’s faith. Although not everybody regained the faith, the majority of people devoted to The New Deal rebuilt themselves, our economy, and the overall government. Without the help of our 32nd President, often called by his initials FDR, America could have ended in anarchy. However, there are two sides to every story, and not every America felt the same way. When the world started changing, not every American was able to keep up. Everything was becoming pricier and wages weren’t getting any higher. Our fast growing industrial way of life was slowly weakening our economy. Most citizens were investing in the stock-market and getting loans from banks that they couldn’t repay. Americans trusted in their economy, due to its illusion of security. However, this wasn’t the case for very long. The crash happened sometime…show more content…
The Deal provided a necessary relief to desperate times, than paved the way for the reform needed to prevent the economic collapse from threatening our reliance on the government again. The New Deal may have been too drastic for some, or perhaps not drastic enough, but the overall impact it provided the reaction needed to change the course of American lives to this day. So when President Roosevelt first said “The only thing we have to fear is fear itself.” He meant the “nameless, unreasoning, unjustified terror...” can be binding. Luckily, we had a President and a New Deal that promised us to free us from our paralyzing fear. He led the revolution of the era in his reform techniques, despite what reaction he may have
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