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Short And Long Term Effects Of The Great Depression

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The Great Depression
The Great Depression lasted from 1929-1939 and was the biggest and longest lasting economic decline in history. C.L.R. Jarnes said, "The most striking development of the Great
Depression is a profound skepticism of the future and of contemporary society among large of the Arnerican people." The history of the Great Depression includes the causes and the effects it had on the American people.
In the year 1928 the FED began raising the FED fund rates and kept increasing them until it finally triggered the stock market crash, one of the biggest causes of the Great depression. The day the stock market crashed is known as Black Tuesday, the day that changed America. As businesses began …show more content…

Then investors turned to the currency markets and began trading in their dollars for gold as well, creating a run on the dollar.
During the Great Depression the FED decreased the money supply instead of increasing it. Therefore, the FED did not put enough money back into the banks to get the economy going again, causing the total supply of the U.S. dollar to fall 30 percent. Then the FED raised interest rates to preserve the value of the dollar, making money even harder to get, causing even more bankruptcy. With the stock market crash people began to fear further economic depression causing people of all classes to stop purchasing items. This led to a reduction of items which lessened jobs. The Great Depression reached its worst in the year 1933; because of this the unemployment rate went from 3 to 25 percent.
Under the leadership of Franklin Roosevelt strict trading and bank regulations were put into place to prevent another crash. His New Deal put much more government involvement in people's lives. This involvement continued long after America recovered from the Great
Depression, Roosevelt believed that the govemment could spend its way out of the depression

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