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Effects of Great Depression of the United States
Effects of Great Depression of the United States
Impact of the great depression usa for black people
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1930’s The Great Depression The Great Depression was the largest economic depression of the 20th century, and is commonly used today as a measure of how far the world’s economy can decline. The depression started in the U.S in 1929 with the Wall Street stock market crash (known as Black Tuesday). This eventually spread globally and affected the economy of many other nations throughout the 1930s. Canada was greatly affected by this as Canadian industrial production fell to 58%, the second lowest level after the United States.
Many economists trace the start of the Great Depression back to the 1929 stock market crash in the United States. This impacted the United States in a major way causing many laborer’s to find themselves jobless. There was a dramatic drop in trade, income and taxation that was felt by every country in the world. In the United States the unemployment rate reached 25%. Put in perspective this means that 1 in 4 people during the 1930’s had no form of income.
In 1929, the stock market crashed, bringing economic devastation to all of America, and much of Europe. Many Americans were jobless and homeless, causing many problems all throughout America. The American citizens and people frantically tried to create coping methods fro life in poverty, and did what they had to survive, as our government was working to improve life for the American citizen. These fateful years would later be known as, “The Great Depression”, the greatest economic crisis in American History.
According to video, the United States had face hard times in Great Depression in 1920s, because many people spend too much money on the stocks, so the banks could not control over the debts they owe so that market system had been crushed during that time. However, President Roosevelt created the new programs which is called “New deal” so that workers are could get earnings from creating dams, buildings. States taking control over the setting the prices for workers’s wages so that they could invest some money to use for later. Therefore, the banks had been recovered and functioning well because they had been running with consumers spending with earnings slowly. Furthermore, Government also control over private companies so that they could
The Great Depression was a devastating period in United States History, the economy collapsed, and a staggering 25% of the population was unemployed. During this time, there were large wage disparity gaps that were very prevalent, there was no middle class, you were either wealthy or you were poor. It was hard for family life to continue, parents had to take up two and three jobs to make sure their kids were staying safe, and well. Most of these jobs were odd-jobs, and were temporary with no sense of security. It was a struggle to find work, and no job was too demeaning for you to do, because you may not find work again.
The Great Depression era was one of the most severe hardships in United States history. The amount of suffering that ordinary Americans endured during the Depression was unprecedented. The Depression caused big businesses like Ford to layoff much of their workers during the Depression. This massive unemployment caused millions of workers to lose their homes and their livelihoods, puting Americans in destitute situations of extreme poverty. During the Depression the contemporary safety nets that existed to help take care of people when disaster struck had dried up and was unable to assist everyone.
The Great Depression was one of the most devastating economic crises in the history of the United States. It began in 1929 after the stock market crashed, setting off an economic spiral. Lasting for a decade it caused widespread unemployment, poverty, and social unrest. The economic collapse had devastating effects that had impacted everyday American life, including individual families, to the national economy, and even the government. During this period of time the American people faced a range of challenges including, unemployment, homelessness, starvation, and social inequality.
Imagine working sixty-hour weeks on your family farm planting the harvest, feeding the livestock, mending fences, and fixing equipment because your family can afford to hire a mechanic. You rise well before sunrise in the dark to tend to the animals while your younger siblings sleep. As they laugh and play on their walk to school, you must stay home and help your parents work to keep the farm going. They get to socialize with their peers each day, but you can't remember the last time you talked to anyone your age. Then one day you wake up and find all your hard work and sacrifice blown away by the wind.
The Great Depression happened from 1929 to 1939. It was caused by the stock market crashing. It affected America in a good and bad way. Bad things that it brought is unemployment. Good things that it brought are a lower cost of living, huge technological advances, new forms of entertainment, more leisure time, a return to responsible social behavior, a five day work week, the Golden age of radio and film, the playing of social sports like monopoly and softball, leisure time to read and dance.
The Great Depression affect the various segments of American society due to having thousands of business failed. During this time period, over 25-33% of the population were unemployed. The Upper and, middle classes believed that people were poor since they didn’t work hard enough or that they didn’t work at all - stating “work hard and you too can be successful”, but failed to realize their economically unstable because they can’t find support to have a stable lifestyle. As an addition to poverty it increased the crime rates in the cities, since people were unemployed they’ll do anything to survive. As for others, they were hopeless and ended their own life committing suicide.
The Great Depression is one of the worst moments in American History and it changed America in many ways. The Great Depression affected America economically, socially and there manufacturing. The Great Depression lasted for ten years from 1929 till 1939. This was one of the largest a darkest periods America has ever faced and America was not really ready for it and that was why it affected America so badly. The stock market collapsing was the cause of this Great Depression and it lead to people losing their jobs, businesses and some even their homes.
In what ways did the Great Depression affect the American people? After a decade of economic prosperity, what seemed like an era that defined the concept of the American dream, quickly came to an end when the stock market on Wall Street collapsed in 1929. The aftermath of the events that occurred on Wall Street would put its heavy mark on the years to follow among the citizens of the United States. Banks closed down, unemployment rose and homelessness increased. It was a widespread national catastrophe that had its impacts on both poor and rich.
The Great Depression greatly influenced the political and economic situation in America. No nation could emerge from something as tragic as a economic depression without suffering profound social, political, and economic changes. In regards to the economic situation in America, the majority of businesses failed and became bankrupt, but some actually emerged even stronger. With the mass amounts of unemployed people, the crime rate skyrocketed as well as other things such as suicide rates, prostitution, alcoholism, and malnutrition. Things such as health care and higher education were almost always out of the question for Americans during this time.
The Great Depression accelerated international gold standard termination. By dint of 1973, fixed exchange rates were neglected in favour of floating rates. In many nations, government regulation on financial markets were drilled frequently during the Great Depression. The United States, established the Securities and Exchange Commission in 1934 to regulate shares and market trading practices including foreign company financial instruments for instance; bonds and stocks.
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.
