The great depression is an immense tragedy that took millions of people in the United States from work. It marked the beginning of involvement from the government to the country’s economy and also the society as a whole. We still feel and deal with the ramifications from the laws and policies made to get us out of the economic drought and ensure it never happens again. There is a huge contrast between the 1920’s and the 1930’s as the what they call ‘The roaring twenties” was full of prosperity and wealth due to the destruction of Europe and its economy after World War One. The 1920’s were truly crucial for the U.S as it is when it becomes a truly modernized nation. The era is also known as “a return to normalcy” as they are returning to a …show more content…
Overall, the 1920’s was a period of growth, profound changes, and excitement. The big question is how did the nation go from a period of extreme growth to a nation with a destroyed economy in such a short time. There are many variables in the causes of the Great Depression and they all cause each other to domino and cause even more problems. The failure of the stock market is what sparked the great depression as it was crucial to the economy. Many people tried as they could to sell their stock, but, unfortunately, no one was ready to buy. The stock market that had for long been viewed as a path to wealth and richness was now a sure path to bankruptcy. The stock market was not the only one that was affected; actually, that was just but the beginning of the Great Depression. In effect, it was unfavorable for the clients whose money was already in the markets for investment: many banks had done that and that meant a huge loss to the clients. It was also a double loss in that though the clients lost their money, the banks were forced to close down. This is because the banks at the time depended completely on the stock market. All this panic caused many others to go to banks and withdraw their savings which caused even more banks to …show more content…
All the grass for their animals was dried and the loose dirt was picked up by the high winds in the Great Plains which created massive tornado-like storms of dirt which obscured vision and ability to work which ultimately limited production and efficiency. In 1932, a major change came along and the American people were in hopes that it was for the better. The Presidential election ended up be a landslide win for Franklin Delano Roosevelt, the Democratic runner who promised to bring the U.S out of the gutter that was the Great Depression. He claimed he would do the with “The New Deal” and the “Hundred Days”, a special session of Congress from March 9, 1933 to June 16, 1933, in which important social legislation was enacted to counter the effects of the Great Depression. FDR is also the 5th cousin of Teddy Roosevelt. He faced four major problems when he entered office. First, he had to deal with the extremely high rates of unemployment to get people some money in their pockets. He also had to fix the broken banking system and gets the banks back and running properly again. The lack of regulation in the stock market was also seen as a problem by FDR which needed to be addressed. Finally, he had to deal with the public morale as the American people felt as there was no hope left for their lives and the economy to