Investor Life During The Great Depression Essay

Investor’s life during the Great Depression

One of the prolonged scarcity periods was the Great Depression. Before the Great Depression, the U.S was known as the world’s wealthiest country, even more than Britain (Ross). Its opulence was due to large population, good transportation systems, fine education, political stability, abundant raw materials, and a government that had little wish to interfere in economic affairs (Ross). The Great Depression commenced after the downfall of Stock Market Crash was that bankers were loaning money carelessly. Many people suffered during this period due to unemployment and business fail. People could not pay for nosh and other desired things. However, not everyone suffered from the Great Depression. Many wealthy people did not savvy about it until it axed. Although it did not impact wealthy people, but it definitely impacted impoverished people, or low class people and middle class people. The Great Depression sorely affected the nation, and it was the greed of investors and reckless banking practices that brought the nation to crisis.

The bank was a major cause that led to the Great Depression. People would give their money to the bank to solicit for

It was named Black Thursday because it was the first day that the stock market began to decline. By the end of the day, a record of 12.9 million shares had been sold (Ross). The reason for this crash was because many shares were for sale and prices slumped. Share prices fell day by day. Black Monday was followed by Black Thursday. On that day, Shares prices fell rapidly again. Finally, on October 29, also known as “Black Tuesday”, was the day the Stock Market crashed. Investors’ loses were estimated at $26 billion (Ross). Many investors could not keep up with the crash. This crash led to investors to committee suicide. Families got torn apart and the majority of the nation became