During the years of 1914-1918 was “the greatest wars to end all wars” known as World War I that jumpstarted our journey towards the Great Depression. In this war it involved fighting in between nations, alliances, imperialism, militarism, nationalism, and assassinations. After all this fighting came the Roaring 20s. The Roaring 20s was a time period when many people defied prohibition, indulged into new styles and art, and the economy was at an all time high. Now imagine having a luxurious mansion and you leaving your family at home to go to work at your fancy job. Then you come home that evening and you’re all of a sudden broke. Unreal right? Well this was what happened to many families on October 29, 1929 when the stock market crashed and the Great Depression started. United States economy took a turn for the worst and brought about devastation which resulted into problems for the American people/government and them having to deal with it in different ways. Such an event caused many problems in the country. The first problem had been that many people became unemployed due to the stock market crash. Many industries had too many products left over that was not being sold in the country in which lead to job layoffs since they didn’t have money to pay their workers. In the early days of the depression many employers including the government tried to give jobs to whoever was the head of the households. (Doc 5) Unemployment helped lead to another problem which was hunger. In document 2 families who were hungry had to live off of dandelions and blackberries. Also they had to stand on lines for cheap food. The American people desperation to have a decent meal that would satisfy their needs eventually led to them fishing food out o... ... middle of paper ... ...R promised to the American people. The New Deal had helped some however it ignored tenant farming, farm laborers, ignored lynching, and did not help do a lot for the African American population. (Doc.6) In conclusion you can see how the life during the Great Depression of the 1930’s was devastating. Many people lost everything. People panicked but others found ways of coping with the problems and trying to find ways out. From FDR's New Deal to the present, the federal government has continued to grow, assume an active role in the daily lives of citizens, and to spend more on domestic and foreign affairs. What would it be like if the Great Depression happened today? Would people panic? What lessons could we learn from that time? If it would happen again, I hope that we could rebound like these American people who went through and have a good ending just like them.
During 1928, the stock market continued to roar, as average price rose and trading grew; however as speculative fever grew more intense, the market began to fall apart around 1929. After the stock market crash, a period began that lasted for a full decade, from 1929 to 1939, where the nation plunged into the severest and the most prolonged economic depression in history - the Great Depression. During this inevitable period, the economy plummeted and the unemployment rate skyrocketed due to poor economic diversification, uneven distribution of wealth and poor international debt structure.
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 1920s were a time of leisure and carelessness. The Great War had ended in 1918 and everyone was eager to return to some semblance of normalcy. The end of the war and the horrors and atrocities that it resulted in now faced millions of people. This caused a backlash against traditional values and morals as people began to denounce the complex for a return to simplicity and minimalism. Easily obtainable credit and rapidly rising stock prices prompted many to invest, resulting in big payoffs and newfound wealth for many. However, overproduction and inflated stock prices increased by corrupt industrialists culminated until the inevitable collapse of the stock market in 1929.
The Twenties was a time when people did not care about anything besides having fun. The average person had a job, the economy was flourishing, foreign trade was on the rise and the stock market was booming ("The Crash … and Beyond."). President Hoover said, during his inaugural address, "I have no fears for the future of our country. It is bright with hope" but by the end of 1929 he would regret those inspiring words (Hoover). During a time when people were living the American Dream, few were prepared for or expected the stock market crash and the American nightmare that continued through the 1930s.
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 causes of the Great Depression of the 1920's and 1930's has been argued about for generations. Most people agree on several key topics and that it was the severity and length of time the Depression lasted that was actually the most remarkable. Hoover made many noteworthy attempts to try and solve this crisis, yet in the end it was President Roosevelt and his "New Deal", that brought many Americans hope for the future.
From 1929 to 1940, the United States experienced its worst long-lasting period of high unemployment rates and poor economy: the Great Depression. Buying on margin, speculation, and buying on credit could have been the main factors that led the stock market to crash, and, consequently, gave a start to the Great Depression. These facts strongly support that the Great Depression was caused by people’s buying habits.
The Great Depression was felt worldwide, 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 job(Smiley 1). Unemployment rates had increased to a 24.9 percent during 1933(Shmoop 1). Unable to pay mortgages, many families lost their homes. The cause of this was the Stock Market crash in 1929. Many investors of the stock market panicked and sold all their stocks. The results of this include frightened Americans withdrawing all their saving causing and hoarding it in their homes many banks to shut down and less money to circulate in the economy. Although the economy had taken a dramatic blow, there was hope. A new program was administered by the government to help people suffering from the depression. The Works Progress Administration (WPA) program helped improve lives of Americans affected by the Great Depression.
Historians have found this to be a remarkable period of time not due to its occurrence but to its durations and effect.
The great depression was a difficult time for our country. Many lost their jobs, lived in poverty and became homeless. Many farmers couldn’t afford to keep theirs farms. Women had a hard time finding employment as well as men and children couldn’t go to school or be supported by their parents. To give an overall view, unemployment rose to twenty five percent and half of banks failed, leaving the United States in a devastating economy.
Most Americans began to live a better life from 1922-1929 otherwise known as the seven fat years. This was due to the government’s relaxed approach towards the economy. The laissez-faire system was encouraged because there was little intervention from the state. Businessmen didn’t have to listen to government they could make their own decisions in order to produce profit and wealth. Government’s approach was pro-industry and anti-labour which meant that there was no protection for the workers thus leading to inequality, long working hours and not a enough pay for the workers to really feel happy or satisfied. Powerful monopolies were able to grow unchecked. Although the laissez is a reason for the crash it isn’t the only one reason. It can be argued that the economic isolationism, loans to Germany and other countries and unequal wealth and income etc. were the causes of the crash because America had many more influences than government not intervening and they were involved with a lot of things and people and would come out on the other side biting more than they could chew during the depression.
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.
Following the decade of economic prosperity and peace of the Roaring 20’s was the 1930’s which is commonly known as the Great Depression, an era of distress and instability that played an effect on altering the social, political, and economical infrastructure of the United States. Before the Great Depression, the United States was a representation of a consumer-driven society, with people loaning money from banks, in order to pay for luxurious items, they could not afford. However, in 1929, the stock market crashed, resulting in the nationwide closures of multiple banks and marked as the begin of turmoil for Americans. With the burden of the nation on the backs of all Americans, the meaning of life was changed and people waited day by day for the government to act and steer the nation back on the track for economic and political stability and progress, to be a
“Father, won’t we have anything to eat for dinner?” said a young boy in a poor household, after his parents lost everything. Aww, now that’s a sad story. The economic collapse of 1929, also known as the Great Depression, helped make most of the United States bankrupt. The Great Depression was the worst economic disaster in the entire history of the U.S. (Gusmorino). It put millions of people out of work, and made people homeless and hungry. Food and job lines were nearly endless in the cities. The Great Depression was a horrible time for most of Americans. Many people lost their jobs and a lot of businesses closed. This job loss forced many Americans to becoming migrant workers.
When the stock market started failing, many factories closed production of all types of goods. Businesses and banks started closing down and farmers fell into bankruptcy. Many people lose everything, their jobs, their savings, and their homes. More than thirteen million people are unemployed. The Great Depression caused major political changes.