The Great Depression is a tragic event which was from 1929 to 1939 and lasted about ten years, it was one of the worst economic upset in the world. The Great Depression was caused by the Stock Market Crash of October 1929, which led to the public being worried and concerned, later on, tons of investors got wiped out. During the great depression, costumer spending and investments began to fall, causing many employees to lose their jobs. This also led to companies or business shutting down and by 1933, about fifteen million Americans did not have a job and a little bit more than half of the United States banks failed. The Great Depression was also caused because of the abuse of credit, buying the product and paying back later. Many people would
The Great Depression is a sad era of United States History. The Great Depression was a massive economic depression. It affected many people’s lives across the United States. People’s lifestyles changed dramatically going into the Great Depression. There were many factors that caused the Great Depression.
1.The great depression was a time between late 1929 to 1939 and was completely ended during World War Two. It started with a series of events, most famously the Wall Street stock market crash, that induce poverty on the American citizens. It caused the downfall of the US economy.
The Great Depression was a period in United States history when business was poor and many people were out of work. The beginning of the Great Depression in the United States was associated with the stock market crash on October 29, 1929, known as Black Tuesday. Thousands of investors lost large amounts of money and many were wiped out, lost everything. Banks, stores, and factories were closed and left millions of Americans jobless and homeless (Baughman 82).
The Great Depression was a time of great loss and devastation that left a mark on American history forever. The Great Depression was a economic downfall that affected many lives and businesses but after years of struggle and programs the depression concluded.
Great Depression was one of the most severe economic situation the world had ever seen. It all started during late 1929 and lasted till 1939. Although, the origin of depression was United Sattes but with US Economy being highly correlated with global economy, the ill efffects were seen in the whole world with high unemployment, low production and deflation. Overall it was the most severe depression ever faced by western industrialized world. Stock Market Crashes, Bank Failures and a lot more, left the governments ineffective and this lead the global economy to what we call today- ‘’Great Depression’’.(Rockoff). As for the cause and what lead to Great Depression, the issue is still in debate among eminent economists, but the crux provides evidence that the worst ever depression ever expereinced by Global Economy stemed from multiple causes which are as follows:
In the 1929, The Great Depression was a worldwide depression that lasted for 10 years. The stock market crash of the 1929 causes the Depression, when loans were given out and people couldn’t repay the loan. It affect many American lives, the unemployment had skyrocketed from 3% to 25%. Work wages fell 42% for those who still had a job. The Great Depression lasted so long was because it affect a nationwide and people didn’t have money to spend to recover the economy
The Great Depression was the biggest and longest lasting economic crisis in U.S. history. The Great Depression hit the United States on October 29, 1929 when the stock market crashed. During 1929, everyone was putting in mass amounts of their income into the stock market. For every ten dollars made, four dollars was invested into the stock market, that's forty percent of the individual's income (American Experience). during 1929 the stock market was the best way to make money, most of american population invested in the stock market, and back then the government assured people it was the best time to buy houses since the stock market was booming.
the Great Depression. Many people had realized they weren’t making money from stock anymore because they dropped so they tried to sell them but very few people bought. For all the people who bought on margin now have to pay, but most couldn’t pay back so they had their belongings taken away from them. The Great Depression is a serious economic downturn in the nation. The Great Depression is caused by the use of credit over speculations monetary policies.
It seems that the greatest contributing factor to the Great Depression were in fact the Roaring Twenties. As it goes, for the greatest market stability, there needs to be some middle grounds between the highest crest and the lowest trough. There needs to be somewhat of a resting point, just like in a real wave. When the good gets to be too good, and growth has the inability to slow down, a crash within the market is more than inevitable. At this point, it is usually already in play. Following the idea that a bad low can result from a high, which is how we can see the Great Depression got its feet on the ground even in the later parts of the highs in the twenties, we have the Great Recession. A similar thing has happened here, as in
The Great Depression brought much problems such as unemployment, health care cuts, education, and social programs. “Prior to the emergence of global climate change, the Great Depression was arguably the biggest market failure in the history of the United States. It was a catastrophe not just because of the economic chaos and hardship it produced but because it threatened the liberty that was fundamental to American democracy.” (Backhouse, 2015) The government responded by borrowing money from abroad, and the economy kept getting worst. The cutbacks from the government mostly made the country poor and unstable. It was a difficult time to get the issues back in order. The government also increased the cost of living and even reduced wages.
The Great Depression was the deepest and longest-lasting economic downfall in the history of the United Sates. No event has yet to rival The Great Depression to the present day today although we have had recessions in the past, and some economic panics, fears. Thankfully the United States of America has had its shares of experiences from the foundation of this country and throughout its growth many economic crises have occurred. In the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors ("The Great Depression."). In turn from this single tragic event, numerous amounts of chain reactions occurred.
The stock market crash is often viewed as the reason the Great Depression happened, but in the Crash Course History Video he clearly states that the stock market was not the cause. The Great Depression occurred to a great variety of things and had been slow progressing since the end of World War I. World War I set the motion to the Great Depression due to the severity of the impact the war had on the world. The lives lost in war caused a great decrease in consumer and work force. The real cause of the Great Depression could still be pinned on America. The reason being is due to the bank system. As it is said in Crash Course History Video, 8:06 “By the end of 1931, 2294 banks had failed”. When the banks couldn’t supply money banks went belly up, then when banks weren’t supplying money, jobs weren’t getting money to pay workers. When jobs didn’t have money they had to lay off workers. The accumulation of fewer jobs, less money, excess supply, and high unemployment caused the depression in America. When America went under the rest of the world was like a domino. World trade came to a halt, other
The Great Depression was 10 years of horror, filled with unemployment, starvation, and sadness. It started with people who thought the sky was falling.
The Great Depression was a period of first-time decline in economic movement. It occurred between the years 1929 and 1939. It was the worst and longest economic breakdown in history. The Wall Street stock market crash started the Great Depression; it had terrible effects on the country (United States of America). When the stock market started failing many factories closed production of all types of good. Businesses and banks started closing down and farmers fell into bankruptcy. Many people lost everything, their jobs, their savings, and homes. More than thirteen million people were unemployed.
The national body met for the first time in 1920. The league of nations held its first meeting in a Swiss hotel. A new era was beginning. Not a lot of people joined. The league of nations believed they could help the world by having open discussions and tried to stop the threat of war but couldn’t. Everyone was affected. There were millions of signatures to banish war, then the Germans hired a new leader...adolf hitler. Then more war happened. But something amazing happened and demand peace by reason. “Words cannot describe the feeling of winning this war”. The crowds from the world war 1 winning was absolutely huge.