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The effect of the wall street crash
Chapter 21 us history great depression review
Chapter 21 us history great depression review
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Recommended: The effect of the wall street crash
In the years 1929 to 1939 were very bad years for the people of america, this period is known as the Great Depression. With the stock market crash and farm the dust bowl the great depression brought along hardships like no one could ever believe
The Great Depression was a rough time for the people of America many people were jobless and the unemployment rate was up to about 23% or 12,060,000 were jobless and that is an extreme amount because today it is at about 8% or 4,340,000 do not have jobs in America, when the unemployment rate was up to 23% people were moving from state to state trying to find work and when jobs would send out flyers for a certain amount usually double or triple that would be there then the more people that showed up
The great depression was a very sad and hard time. This was a time where people had little money, no available jobs and just had a hard time with everything. Many people had nd any way to make money whether it was cutting kid’s hair in neighborhood, picking fruit, selling iron cords house to house or even painting a house for 5 dollars. Even though this was a very hard time some people still had hope that things would get better. This was a really bad time until Franklin Roosevelt who was for the government supporting the Americans and not the other way around became president.
The Great Depression, beginning in the last few months of 1929, impacted the vast majority of people nationwide and worldwide. With millions of Americans unemployed and many in danger of losing their homes, they could no longer support their families. Children, if they were lucky, wore torn up ragged clothing to school and those who were not lucky remained without clothes. The food supply was scarce, and bread was the most that families could afford. Households would receive very limited rations of food, or small amounts of money to buy food.
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 years berween 1929 and 1933 were trying years for people throughout the world. Inflation was often so high money became nearly worthless. America had lost the prosperity it had known during the 1920's. America was caught in a trap of a complete meltdown of economy, workers had no jobs simply because it cost too much to ship the abundance of goods being produced. This cycle was unbreakable, and produced what is nearly universally recognized as the greatest economic collapse of all times. These would be trying years for all, but not every American faced the same challenges and hardships. (Sliding 3)
The Great Depression was felt worldwide, in some countries more than others. During this time, many Americans had to live in poor conditions. In the United States, 25 percent of the workers and 37 percent of all nonfarm workers lost their jobs (Smiley 1). Unemployment rates had increased to 24.9 percent during 1933 (Shmoop 1). Unable to pay mortgages, many families lost their homes.
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:
October 29th, 1929 marked the beginning of the Great Depression, a depression that forever changed the United States of America. The Stock Market collapse was unavoidable considering the lavish life style of the 1920’s. Some of the ominous signs leading up to the crash was that there was a high unemployment rate, automobile sales were down, and many farms were failing. Consumerism played a key role in the Stock Market Crash of 1929 because Americans speculated on the stocks hoping they would grow in their favor. They would invest in these stocks at a low rate which gave them a false sense of wealth causing them to invest in even more stocks at the same low rate. When they purchased these stocks at this low rate they never made enough money to pay it all back, therefore contributing to the crash of 1929. Also contributing to the crash was the over production of consumer goods. When companies began to mass produce goods they did not not need as many workers so they fired them. Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst.
The Great Depression was a period from October 29, 1929 to around 1940, close to when the U.S. entered World War II. This period was an economic depression that was started by the Stock Market crash. Such a catastrophic time span has many different causes that can all relate and combine. The Great Depression had many underlying causes that started originated after World War I. A series of events, including the economic boom of the 1920’s were contributors to the Great Depression.
The Great Depression was a period, which seemed to go out of control. The crashing of the stock markets left most Canadians unemployed and in debt, prairie farmers suffered immensely with the inability to produce valuable crops, and the Canadian Government and World War II became influential factors in the ending of the Great Depression.
The Great Depression began in October 1929, when the stock market in the United States dropped rapidly. Thousands of investors lost all of their of money and were forced to live on the streets often going without food. This crash led into the Great Depression. The ensuing period of 10 years ranked as the worst period of high unemployment and low business activity in modern times. Banks, stores, and factories were closed and left millions of Americans jobless, homeless, and without food. Many people came to depend on the government or charity to provide them with food. The Depression became a worldwide business slump of the 1930's that affected almost all nations. It led to a sharp decline in world trade as each country tried to protect their own industries. The Depression led to political turmoil in many countries such as Germany where poor economic conditions helped lead to the rise of Hitler. Franklin D. Roosevelt was elected President in 1932 and his 'new deal' reforms gave the government more power and helped slow the depression. The Great Depression ended as nations increased their production of war materials at the start of World War II. This increased production provided jobs and put large amounts of money back into circulation. Several factors led to the great depression. One being the lack of diversification in the American economy. The prosperity of America had been basically dependent on a few industries like construction and the automobile and in the late 20's these industr...
The Great Depression occurred from 1929 and lasted to the early 1940’s. It was a deep and tragic period of time where everyone was affected in some capacity. This period marks the longest most widespread depression in American History. It has devastating effects to both the rich and poor. Cities all around the world were hit hard by this crisis.
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 1920s were known as carefree and relaxed. The decade after the war was one of improvement for many Americans. Industries were still standing in America; they were actually richer and more powerful than before World War I. So what was so different in the 1930’s? The Great Depression replaced those carefree years into ones of turmoil and despair.
The Great Depression was the deepest and longest-lasting economic downfall in the history of the United States. No event has yet to rival The Great Depression to the present day, although we have had recessions in the past, and some economic panics, fears. Thankfully, the United States of America has had its share 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 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.