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Causes and consequences of the great depression
Causes and consequences of the great depression
Causes and effects on the great depression
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Following the end of the First World War, the United States was initially prosperous. In 1929, that prosperous age about-faced into a downward spiral that enveloped the entire country. What was eventually called the Great Depression was essentially caused by four major events. At the start, the stock market was strong and thriving and the population was willing to invest in it. Americans were so confident in the market, in fact, that it was common for them to take out loans to fund their investments.
In the 1930s more than 15 million American had no jobs. That is more than 20 percent of the U.S population at that time. The United States was in a bad situation called The Great Depression. There was a lot of poverty since the stock market crashed in 1929. Americans lost their money/savings.
The context of the great depression is world war 1 the great world was fought in europe leaving the us economy untouched this allowed the u.s to become a trading giant as they began to mass produce everything. After evaluating and weighing the evidence installment buying and the stock market crash were the major causes of the great depression. Before the great depression having debt was no longer shameful because of this people kept buying and buying, 3 out of 4 radios were on installment plans and 60 percent of automobiles and furniture were also on plans. They were buying faster than their income was expanding. As time went on it was only a matter of time before purchases would slow down, with these purchases slowing down the cutback slapped the whole economy (doc 6).
When the citizens lost all their savings and money that they placed in the stock market, they were unable to refund/pay back the investment they took for their credit cards. With that situation, some people were unemployed and were not able to make any income and ended up leading to certain circumstances if they did not refund. Many families went homeless and even men left their families because they could not provide them with their needs. In addition, women jobs were taken away to give
People sell more stocks the lower the stock fall. As a result, the market crashed. Americans became unemployed and could not pay rent so they became homeless and started to live in dirty conditions. Americans could not even afford to buy food for their families and so they started to wait in line for free food. It was completely based on luck; some people got food and some starved.
The Great Depression was a complex event caused by a variety of factors. The six factors of the Run on the Banks, the Stock Market crash, the uneven distribution of wealth, problems for business and industry, problems for farmers, and the overuse of credit all played a role in the start of the Great Depression. All of these factors were an important factor in helping start the Great Depression. However, the overuse of credit was the most important factor of them all because it led to people relying on loans, too many payments for the consumer to adequately keep up with, and the economy eventually drying up once the influx of money stopped.
The Great Depression started in 1929 when the stock market crashed. The banks didn’t have enough money to give. President Hoover was a bad president and then when FDR took over he wanted to change it. Hoover did one thing by making the Hoover Dam and saving money by making water into electricity. The Great Depression was the worst bankruptcy in America's history.
During the 20s, which became known at the Roaring 20s, American society was at an all time high and people were prospering as the nation’s wealth almost doubled and American was sent into the modern, consumer age. However following almost directly after the Roaring 20s, America entered a period of economic failure, also known as the Great Depression. During this period, the U.S faced economic, social, and political turmoil. The government and various individuals quickly sought after solutions to address the problems facing America during this time. Herbert Hoover, who was President at the start of the Depression, and his many reforms intended to revitalize the economy and create more jobs but would fail and his belief in rugged individualism
The Great Depression began in August 1929. It was a tragic time that left millions of people in the United States out of work. The day when this happened is referred to as Black Tuesday, and it is the day when the stock market prices crashed to a degree that there was no hope for it to rise anymore. Many people attempted to sell their stocks, but there was no one who would buy it.
The Great Depression started in early 1929 and came to full fruition by the 1930’s after the American banking system collapsed. The agricultural sector and the decline in prices brought on fear and anxiety that people were experiencing. Citizens started to withdraw their money from the banking systems; this made the banks increase their reserves which made the stock of money
America had experienced other depressions or “panics,” but none were like the Great Depression. The Great Depression began on October 29, 1929, Black Tuesday, with the stock market crashing. Most people believe that the cause of the Great Depression was the stock market crashing. Although that is what triggered the Great Depression there were many underlying causes that lead up to the stock market crashing. Some of the underlying causes include under-consumption/over-production, uneven distribution of wealth, loose banking and corporate regulations, tariffs policies, and the stock market.
In 1929, the U.S. was hit with the worst economic crisis in the history of the country, the Great Depression. The Great Depression left millions of people unemployed and cost millions their life's savings. The Depression lasted for ten long years for the American people. Since the Great Depression ended, people have studied it, trying to figure out what happened that started it all. The problem was, in fact, the poor economic habits of the people at the time, such as speculation, income maldistribution, and overproduction.
The Great Depression started in 1929 . It was also referred to the “Dirty Thirties” . Many young people had to put their lives on hold due to it . To make matters even worse, the U.S were going through a drought at the time and could not help whatsoever . Around the same time of when the Great Depression started, just before, the stock market crashed .
The Great Depression was the deepest and longest-lasting economic downturn in the history of the world. After the stock market crash of 1929, the American economy plummeted. This was devastating for many families. Thousands of people faced dilemmas such as losing their jobs and being forced to survive off the remnants of others. Many were forced to eliminate personal luxuries, problems in the education systems arose, and the banking system was destroyed.
There were a variety of causes that caused the Great Depression, but the main cause that started it was a decrease in spending. This led to production decrease because manufacturers and merchandisers did not want to have unused items just sitting on the shelves. In October of 1929 the stock market crashed. The United States stock prices had reached levels that could not be justified by sensible predictions of future earnings. The results of this were catastrophic.
