What Are The Effects Of The Great Depression

The Great Depression

You walk to your 1920’s car with a wad of bills in your hand. You drive to the stock market only to meet chaos, at the gates. You ask,” What’s going on?” to no one in particular. A man walks up to you and says, “The stock market crashed. You then join the hordes of chaos going off around you. Elsewhere, President Herbert Hoover was giving a speech to the press saying that this crash will right itself and everything will be fine. But no one knew that this small and minor event would lead to a catastrophe, called the butterfly effect, and end in the Great Depression. The Great Depression was a catastrophic chain of events caused by a man-made event, (The Stock Market Crash) and this resulted in good and bad effects such as unemployment and ‘The New Deal’.

The Great Depression was caused by a man-made event called The Stock Market Crash. The prices on the stocks were too high for people to keep up with so they just stop buying all together. Parents weren’t able to keep their kids healthy and buy them enough food. (Besides rich people) Stocks began to decline in September and early October 1929.The banks began to close, people just kept on withdrawing because they didn’t care enough to stop. So the banks had to start firing people so they didn’t have to pay their workers as much. If only

People kept spending and withdrawing money even though they knew banks were closing. The downturn of spending and investment led factories and other too slow production and construction. Unemployment had reached staggering levels in some cities. In 1929, (The beginning of the Great Depression) unemployment rates were 3.2% into massive unemployment. In 1933, unemployment rates had reached 25%. By 1933, Toledo, Ohio’s unemployment rates had reached 80% and nearly 90% of Lowell, Massachusetts was unemployed? All around the world people were feeling the wrath of the Great Depression in its own