Joshua Youngworth Mr. Wall Period 4A 1-13-23 Stock Market Crash and the Great Depression Prior to the Great Depression stocks started to be purchased much more commonly as people assumed they could only gain profit from them. After the stock market crashed in 1929, the Great Depression soon began and the United States fell into a state of financial struggles. The Great Depression was a time where these struggles were common for tons of people all over the country and unemployment rates skyrocketed. The stock market crash caused the Great Depression because families couldn’t pay for anything, businesses started to fail, and banks closed.
The 1920s, also known as the “Roaring 20s”. This was when everything started getting better, new products and new inventions soared through the roof. However, as soon as 1929 hit, everything went down, including the stock market. This was known as the Great Depression. The Great Depression was a worldwide economic downfall in the stock market that caused harm and difficulty to everyone.
The 1920s were called “The Roaring Twenties” because many people contributed to the economy. This led to overproduction, and eventually, the stock market crash of 1929. The stock market crash was a big event that led to a lot of bank runs. After the bank runs out, very few people receive all of their money. A tariff was introduced that taxed imported goods, effectively cutting off trade.
FDR was a progressivist, meaning government should influence the daily life. During FDR’s first 100 days in office he and the Senate pass a bunch of laws (such as the FDIC, AAA, CWA, PWA, etc.) that would hopefully get America out of the Depression, but FDR was experimenting and was not sure if the laws would work. On March 6th FDR ordered a Bank holiday to stop massive bank withdrawal then on March 9th only allowed financially stable banks to reopen. FDR also proposed the New Deal, which included the 3 R’s.
economy had gone into a depression earlier, The Great Depression was by a catastrophic collapse of the New York Stock Exchange and a series of events, which led up to the crash such as the “Roaring Twenties,” where women became more outspoken and rebellious and industrialization led to debt that people couldn’t afford to pay off. “That’s what life is for most people, I reckon…. just barren ground where they have to struggle to make anything grow.” (Burg 33) After this crash, 40 percent of the paper values of common stock were wiped out. The Great Depression left people jobless, homeless, poor, and desperate.
Roosevelt went through a lot of different strategies, and people he faced. The “New Deal” plan goals were not met until the country went to war (World War II) which lead to a long term effect. During the time of The Great Depression president Franklin D. Roosevelt was in office. He wanted to change the and make this time period better.
Over the course of the 1920s-1930s the world as a whole began to go through a time of immense change, bringing forth a new era to society. The introduction of new music such as jazz and the devastating time known as The Great Depression were just a couple of the major introductions for the start of a new way of life. From that point on people began to grow closer to one another in these times of crisis, in order to overcome everything that was thrown in their path along the way. There was absolutely nothing that kept the population from losing their faith, and although this era is still to be considered one of the worst times in history, it was also a time for rejoicing and relying on one another for the fight of their lives.
During the mid-1900’s, the United States had experienced an era of extreme economic downfalls and social issues called the Great Depression. It was far more intense than previous depressions since it occurred after the first World War, when the country was at its all-time high in profits from selling food and supplies to Europe. After the U.S. exceeded in their time of prosperity, a surplus of crops and goods were overgrown and overproduced than the amount that was being sold. Also, banks were overspending other peoples savings in the stock market and to buy bonds. This lead to millions of Americans to lose their savings in the stock market and banks, become unemployed from businesses, and being kicked out of homes for being unable to pay bills.
Do you know anything about The Great Depression? The Great Depression was very tough times for many individuals. From 1929 and through the 1940’s there was a crisis called The Great Depression. The 29th of November 1929 the stock market crashed. Many people were out of food,jobs,and also places to live.
The great depression was a very hard time for the entire US. Economy had taken a huge dip, familys lost thousands, business closed down, millions lost their jobs, Hapiness was at an all time low, hence the name "The Great Depression". Many families had been in debt for their share of a business. To start off, something very big during that time period was buying shares in a business. Many many people had thought that they could by a share of a business without a problem and make alot of money.
There were many important events that occurred during the 1930's. The Great Depression was one of the times in the 1930's where many people in the U.S and around the world were affected. It was when many people and businesses were suffering economically. Also many banks had to close because they couldn’t handle all the money that the people wanted to have. After all there were many acts and bills Congress passed to be able to recover from all the economic problems.
During the economic boom of the roaring twenties, rural America was challenge by the jazz age, women smoked, drank, and wore short skirts. Americans were buying automobiles and household appliances, which were bought on credit. Businesses made 65% huge gains but the average worker’s wages only increased 8%. On October 29, 1929 known as Black Tuesday the stock market crashed which triggered the Great Depression. It was the worst economic collapse in the modern industrial world.
The Great Depression was a worldwide economic slump that began as an American crisis. The 1920s was a boom decade for American companies, which tallied up record production figures, ever-increasing sales and millions of dollars profit. These profits meant high dividends and increasing share prices, which encouraged investment in shares. In 1927 and 1928, the Wall Street Stock Exchange was home to the new gold rush, as thousands of Americans rushed to take advantage of the booming share market. Some sold what they had or borrowed heavily to purchase shares.
The primary causes of the Great Depression can be blamed on the stock market Crash of 1929, decreased overall spending, the overuse of credit, drought in the Midwest, and foreign economic policy. After World War I, ended the United States’ economy and trade between Germany and Europe was at an all-time high. The 1920’s is viewed as a time of prosperity because of the great inventions and investments in the stock market. Incomes increased after World War I and investors were buying on margin, which is when an investor borrows money from a broker to purchase stocks.
The great depression was a rough time for many Americans. The country suffered as a whole but everyone reacted differently to the crisis. The businesses, people and government all handed the Great Depression in different ways. Large businesses and corporations did not help too much to help when the depression hit. The cotton factories in specific were known as terrible places.
