The Great Depression was the double edged sword that America had taken when the debts of many finally caved in. The distribution of monetary & material uses diminished as a cause of this, making it the main reason as to why the Depression even occurred. Saying it simply: there just wasn't enough money or goods being consumed at that time. Also concluding that since the U.S. is the world’s number one superpower in virtually anything, that the entire globe was going through the depression with them. That being because the money that is being used, flows through other country’s versions of debt and exchanges and coming right back to us.
Major events that only added fuel to the already burnt out America were as is, there was a massive lack of diversification in the time period (1920’s). Since the top two industries that were the automobile and the construction, they seemed to decline full-scale. Automobiles, because everyone in america seemed to have one and ONLY needed one. Another event would be the failed credit structure that the economy had in place. Everyone owed money, which goes back to
…show more content…
One of them being the banking system, which was aided by the “four day banking holiday” and the creation of the Banking Reform Act. Second being the apparent lack in the stock market, which proposed the Securities Act and the Securities Exchange Commission Act. Third being the absurd amount of unemployment, which would be accommodated by the Welfare Capitalism that was needed to spark interest in any job possible, (first time that the government has a key role in employment). Lastly, of the four problems, there seemed to be a depressing lack of hope in people's confidence. F.D.R sought to resolve this with the help of commercial radios, when he’d go on and speak of “Fireside chats” that gave people slightly more confidence in their