Perhaps the worst economic downturn in the history of the United States occurred from 1930-1939. The Great Depression led to domestic and international crises effecting the poor and wealthy alike. Many financial experts today continue to debate the cause of The Depression, although most agree that several events led to the economic decline. The famous stock market crash on October 29, 1929 is just one of many causes economists believe led to The Great Depression. Known also as Black Tuesday, October 29th left stockholders shattered with recorded losses reaching $40 billion dollars (Kelly, n.d.).
Starting in the year 1929 and lasting throughout the 1930’s, America was brought into the worst economic slump that America and the rest of the world has ever been brought into. This would soon be known as The Great Depression. What caused this depression was the crash of the stock market in 1929 and almost all of the Americans had to suffer from the stock market crash. People were without jobs, homeless, and left without nothing but their families and the clothes on their back. Some of the hardships that the Americans faced were unbearable.
Great Depression The Great Depression was a global economic crisis that started in the early 1920s. This crisis leaded a depression around many nations and many young people. On October 29, 1929 there was a crash of the New York exchanges. The credit dropped rapidly after people kept on spending money, when they didn’t have any money. The stock market crashed rapidly, and took a big hit to the U.S. economy.
What more could they be doing? What handicaps do they work under in trying to help you? As a business owner in 1937, times were hard all over the nation. When you think of local effects, such as being a local business owner in Oregon City, you can see the vast problems with the economy. The first big issue is the fact this time period is predominantly remembered as the “Great Depression.” The Great Depression began on October 29th, 1929 with the crash of the stock market in the United States.
During the 1930's Canada was going through a tough time and that was because of the Great Depression. They suffered through a drought that lasted for ten years providing the cities with no crops, overproduction of goods allowing there to be not enough goods later on, unemployment causing people to go through poverty, and the stock market crash where people lost everything due to the loans they made to pay for their stocks they wanted to sell in the future. All of these events had a major contribution to the Great Depression, but the main causes of the Great Depression were unemployment, the drought, and the stock market crash (also known as the trigger incident). Unemployment was one of the main causes of the Great Depression. While many people were buying on credit, they needed to pay off their debts and as long as they had jobs they were able to
It did not only affect Americans, but also the whole world. The Great Depression was caused by the crash of the stock market or the lack of real investment opportunities in the 1920’s, product innovation that caused less labor, President Roosevelt believed that it was caused by the structural problems and doubted simulative spending will solve the problem, and some argued it was caused by the shift toward modern employment relation that was made by the Great War. A Depression in the economy can start by raising taxes and dismissing government’s employees and both of these actions can start a depression and both of these were done by the government in 1929. Once this is done, it will have a chain reaction where it will get to the point where the economy will fall and cause its people to live in poverty. The prices of the products will either increase or stay the same but the wages of the people will always decrease.
The Great Depression was a severe period of poverty and tragedy. It effected many other countries not just America; especially in Europe, where many countries had not fully recovered from the aftermath of World War I. The cost of World War I weakened the ability of the world to respond to a major crisis. America alone had ten billon dollars of debt from the war. In Germany America’s economic failure contributed to the rise of Adolf Hiltler, so the Stock Market Crash had a domino effect on our country and others.
The Great Depression With the economical struggles that you deal with today, do you think that you could have lived through the Great Depression? The Great Depression had a negative affect the relationships of families because of the economical struggles that they had to deal with. The Great Depression affected many families’ marriages, farm life, and the next generation. During the Great Depression there were many difficult situations with food and farm life. One of the causes of the Great Depression was the crash of the stock market.
Photos of the Great Depression The Great Depression Era was a time when our nation was in a drastic economic decline and many people throughout it were severely affected by this radical change in our economy. Many Americans lost their jobs and were forced to survive on any means necessary. The only way people today can reflect on just how tough a time this was is through the media that was captured during this era. The photographs that were taken by Roosevelt’s team of photographers he funded through his New Deal are the best records that we have today of just what Depression era Americans endured and just what their lives were like during this time period. Under Roosevelt’s New Deal, he created the Farm Security Administration
After the crash of the stock market, banks began to immediately feel the effects. Many people out of fear of losing their lifesavings pulled all their money out of their bank accounts. This reaction to the crash caused banks to lose money fast and they scrambled to get people to pay off debt. Not before long, many banks failed and went out of business, but