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The Great Disasters: The Causes Of The Great Depression

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The Great Depression, one of the most haunting and horrifying times in united history. It lasted for about twelve years, starting in 1929 and ending around 1940. The cause of this disaster event had various faults within the economy. No one knew what was happening or what was going to happen. Many people suffered without jobs, food, money, or even shelter. Now, there were many leaders in the event and, there was lot’s of leadership along with that. Even though all of this, the Great Depression left an astonishing legacy. The initial cause of the Great Depression was the stock market crashes, which happened on Thursday October 24, 1929 that is known as, “Black Thursday”. A series of events led to the crucial crash such as millions of Americans beginning to purchase stock, make investments in money, and stock prices became very high. Investors and bankers had become very nervous and frightened because one of the bankers loaned money to all of the brokers for all of the stock purchases. The investors were worried about all of the stocks that began to drop and drop. President Herbert Hoover believes that his country can beat this. He shared, “Any lack of confidence in the economic future or the basic strength of business in the United States is foolish.” Cited from http://www.pbs.org/wgbh/americanexperience/features/timeline/rails-timeline/ . With that being said, President Hoover did everything to help his country. Sadly over time, he see’s that it’s getting harder and harder
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