Alyssa Robertus March 9, 2023 B.3 The Great Depression The Great Depression is notably one of the darkest times in American history. Many American went unemployed and several lost all of their profits due to bank failure; this resulted in many people undertaking poverty. There were many factors that contributed to the Great Depression, but the primary principal was the stock market crash of 1929. At the time, the stock market was a very appealing subject to invest in. To many, the idea of investing a sum of money with the slim chance of making a large profit was prodigious. Many individuals who didn’t have spare money to buy stocks would take out loans from the bank and pay interest on the money that they took out. They would then invest …show more content…
This increased the rate of homelessness because millions of people lost their jobs and had no source of income. The only jobs that were left were taken by white Americans, while African Americans, the elderly and children had to suffer drastic measures and were declined jobs or layed off. The stock market crash also resulted in deflation and international trade collapsing. Consumer spending dropped significantly because no one had hardly any money to spend. During the stock market crash, farms also suffered. In 1930 the Dust Bowl commenced and didn’t end for another ten years. The Dust Bowl hit the hardest in central and southern America and farmers struggled tremendously to stay afloat. The low rainfall and the high temperatures and wind levels made it nearly impossible for one to grow a crop or raise livestock. This had a major impact on the economy because a large source for the country's food and resources was put to a halt. Many farmers ended up migrating to urban areas in search of jobs from the New Deals government