No matter if a country was considered rich or poor, the Great Depression had devastating effects. The unemployment rate increased dramatically, going from 3% to 25%. For the people who were lucky enough to still be employed during this horrible time, their wages fell 42%. However, the crash of the stock market is not the only thing that caused the Great Depression. In the middle of the 1930’s, a severe drought struck and it ruined much of the agriculture of the United States, which was known as the Dust Bowl.
The Great Depression was a time where both Germany and the United States faced a low point in their Government. Unemployment was at an all-time high and both countries needed a leader who could guide them. Both Germany and the United States suffered from poor governing from past leaders and both had little faith in their country. Hitler and Franklin D. Roosevelt provided just that. Both Hitler and Roosevelt came to power in 1933.
It affected many countries around the world. There is not a single cause of the Great Depression, but many things and events that contributed to its onset. One of the contributions in relation to the Great Depression was the Stock Market crash of 1929. The Crash led to the loss of billions of dollars in value. This was a significant event that triggered the Depression.
The Great Depression caused havoc all over the United States. The Great Depression was caused by multiple consequences, some being stocks, government policies, and panics from bank failures are just some examples. The economy has gone through hard circumstances. Involving people losing their jobs, the overall economy dropped and industries all suffered from the effects of the Great Depression. The president at the time, FDR, tried everything to reverse the consequences of the Great Depression through enacting programs.
How did the Great Depression affect the people in America? Many people were poor and out of work because of this. It changed the way Americans lived. People were trying their best to make and save money. A lot of people lost their homes, other items, and their jobs.
The Great Depression affected almost all of America in the 1930s. This has caused many Americans to lose their jobs and livelihoods. “the American farmers went through the loss of their farms, ruined crops, and dust storms. (page 13)” farmers who were finally debt-free were hit with a drought that lasted 30 years, overproduced to the point where the price of crops hit an all-time low, and had to leave their jobs just to find work. Black Tuesday was the catalyst for the Great Depression, as major stock prices and the backbone of our economy crashed and failed.
How the great depression affected everybody. The great depression was when 50% of the united states lost their jobs or went broke. The cause of the great depression is cause a lot of people were saving and not spending. The system of buying credit, stock market, and low income had a big impact on the United States during the 1900’s. Many families went into debt, and so did many banks.
The Great Depression impacted American workers and the economy by a lot. There was no work because they did not have the money to pay the workers. The banks had a huge crash to. People were rushing to the bank to money out of it but there was no money to get out. Banks started to fail and didn't even have a penny to give out.
The Great Depression greatly affected many people and nations worldwide in a terrible manner. Thousands of people lost their jobs, their land, their families. They lost their confidence in themselves which led to a loss of faith in their beliefs. Countries across the world were negatively affected by the lack of trade and wealth. The poor economy in the United States led to a loss of trade throughout other countries.
The Great Depression affected many people in many ways. During the Great Depression, people dealt with many hardships. Many farmers looked to Roosevelt for help with their crops, in the form of funding. Not just the people, but the President also, had issues to worry about. More importantly, the effects hurt those that lived through it the hardest.
According to Mcelvaine (2004), the crash accelerated the downward spiral of the economy wiping out the paper wealth investors and altering the previously euphoric outlook of so many people into one pessimism, which made them more cautious of their spending and their investments and due to this they needed further demand. The money supply had major effects on the economy as well. If there is no money, then prices would have to fall and this could cause deflation, which is what caused the Panic of 1893, before the Great Depression took place. Germany dealt with hyperinflation and this contributed to the Depression. One way was that it wreaked havoc on the German economy and several European countries and they never fully recovered (Mcelvaine, 2004).
Overproduction, speculation, shaky banking, Restricted international trade was the factor caused economy to move from the prosperity of the 1920s to the severe depression of the 1930s. The effects of great depression were vast across the world. Not only it leads to the New Deal in U.S but more importantly, it was a direct cause of the rise of the intolerance in Germany leading to World War II. Some of the effects of the Great Depression were, Stock Market Crash of 1929, Bank failures, Reduction in purchasing across the board, American economic policy with Europe. During the Great Depression, the greatest problem facing American was widespread unemployment.
Ruhr Crisis & Hyperinflation + The Weimar Republic The Weimar Republic was composed of elected officials from 3 parties that favoured democracy. It was Germany’s newly formed government after the loss of the war in 1919. The Ruhr Crisis in 1923, was to be held accountable by the Weimar Republic. The reason for is the miners in Ruhrs were on strike and the Weimar Republic paid them while no work was being done. This led to a drastic drop in the German economy because there was no money/profits coming to the economy.
In order to assess the significance of the Great Depression, we must consider the different ways in which the Great Depression was significant. The Depression was primarily significant to the German economy and German people. The Great Depression was a very significant event to Germany. It was significant to Germany because they had a turning point in the Great Depression that had many side effects on Germany. The Great Depression had a long-term problem with social, economic, and social weakening during 1929-1939.
The great depression affected a lot of people, especially the farmers due to price drops. The great depression caused one of the biggest unemployment rates in the World. This depression caused a lot of countries like France and Britain to collapse. The great depression caused a lot of businesses and banks to get closed due to the inability to not pay their workers or because or bankruptcy.
