The Causes And Effects Of The Great Depression

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A White Picket Fence and a Home to Call My Own “In 1933, at the worst point in the Great Depression years, unemployment rates in the United States reached almost 25%, with more than 11 million people looking for work” ("The Causes and Effects of the Great Depression”). Immigrants migrated into the U.S., mainly in hopes of accomplishing the American Dream and living an opportunistic life. However, in the 1930s Americans became disillusioned and skeptical of their livelihood due to the Dust Bowl and Great Depression, which altered the American Dream into a desperate hope for survival. Following the Roaring Twenties, from 1920 to 1929, began the grueling Great Depression in which hundreds suffered from unemployment and a collapse in the economy. As early as March 29th financial experts warned that banks were making too many loans, the Federal Reserve, the U.S. central banks, attempted to reduce the amount of loans but failed which resulted in the rise in stock ("Causes of the Great Depression”). The stock market “crashed” due to Americans not buying products which slowed production (“American Experience”). During this time period Americans spent their money poorly for businesses advertised that, by buying their product they would become a celebrity, which was the dream of many people. However, once they realized this was fraudulent they stopped buying these products. Factories, used to selling a large quantity of these products quickly became impeded of these products hence reduced production in factories since they could not rid of the products already made. “With banks failing and businesses closing, more than 15 million Americans (one-quarter of the workforce) became unemployed” (“American Experience”). The decrease in... ... middle of paper ... ...Dust Bowl contributed to the change in the concept of the American Dream into a frenzied hope for survival. Works Cited "American Dream." U.S. History in Context. Ed. William A. Darity, Jr. Gale, 2008. Web. 19 Nov. 2015. "The American Dream." What Is The American Dream? Library of Congress, n.d. Web. 19 Nov. 2015. "American Experience." PBS. PBS, 1996-2013. Web. 18 Nov. 2015. "The Causes and Effects of the Great Depression - College Essays - 413 Words." StudyMode. N.p., n.d. Web. 17 Nov. 2015. "Causes of the Great Depression." History in Context. Ed. Allison McNeill, Richard C. Hanes, and Shanon M. Hanes. Gale, 2003. Web. 18 Nov. 2015. "The Dust Bowl & The Era of Arid Air." The Dust Bowl & The Era of Arid Air. Texas Air Comfort, n.d. Web. 17 Nov. 2015. "New Deal." U.S. History in Context. Ed. Thomas Carson and Mary Bonk. Gale, 1999. Web. 18 Nov. 2015.
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