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What Caused The Great Depression

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Have you ever had to do labor work as a child, to help your family pay the bills? The Great Depression is a critical era in which the stock market crashed and caused many people to lose their homes and jobs. The Great Depression was the greatest downfall of the United States economy. It all started when the stock market crashed in 1929 and continued up until 1939. It made people desperate for money, causing people to start doing migrant work. President Franklin D. Roosevelt held programs and projects which were called the New Deal. There were many causes to the great depression such as President Hoover who was in office at the time it all began. People had to travel all around the country looking for job opportunities and a better life, working under poor conditions. …show more content…

They had no rights as african americans. There were two major roles that led to the great depression, such as bank failure and the stock market crash. Throughout the 1920s a long boom took stock prices to peaks never before seen. From 1920 to 1929 stocks quadrupled in value. Many investors became convinced that stocks were legit and borrowed heavily to invest more money in the market. But in 1929, that bubble had burst and stocks just went downhill from there. In 1932 and 1933, they hit rock bottom, stocks decreased about 80% from their highs in the late 1920s. This had pinpoint effects on the economy. Demand for goods declined because people felt poor because of their losses in the stock market. The wall street stock brokers invested a lot in stocks which seemed promising but later came to bite them back.

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