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The Great Depression In The 1920's

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The Great depression is known as the most devastating time in history. This time period dropped the economy astonishingly for many countries in the world. The time period for this tragic event spanned from 1929 all the way to 1939. Lots of countries were hit very hard by this event, including Canada, Germany, and Iceland. The country by far effected greatest, was none other than the United States.
In the 1920's for the US was considered the "roaring twenties". The economy had almost doubled because of World War I. The stock market became very popular and many citizens invested into it. It seemed liked everyone wanted a share in the stock market. Citizens heavily relied on credit thinking that they will get more money in return in the future. …show more content…

Everyone went to their banks and tried
Withdrawing their money. This caused nearly ½ of the banks to fail due to not having enough money to pay their customers. This meant that no one could withdraw their money. The banks then went to people who owed money from credit, but they didn’t have any money from their stocks. This caused them to foreclose many people's homes.
Business could no longer pay their workers for what they have done because they couldn’t get money from the bank to pay them with. This caused many employees to be laid off. Over 4 million citizens were left unemployed at this time. Later on this number was increased to over 15 million. This marked the biggest unemployment rate in the history of the United States at about 20% of the population (1 in 5 citizens).
Farmers were in even worse shape during this era. Many farmers couldn’t afford to harvest their crops, so they were left to rot. Many farmers had their farms foreclosed and because of this, they moved to urban cities in hopes to find a better job. The ones who stayed had an even worse time. During this era, not only was there a depression, but a giant "Dust Bowl" had occurred. The "Dust Bowl" consisted of many sand storms that made conditions nearly impossible for plants to thrive in. The ground dried up and because of this, dust was thrown everyone in the country, from east coast to west coast. This event was the final nail in the coffin for farmers across the

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