The Great Depression and the 2008-2009 financial crisis were both a general economic decline that was observed all over the worlds markets that had devastating affects all over the world on people as many lost their jobs, homes and were left with very little to survive with . The Great Depression The Great Depression was an economic depression that was severe as well as worldwide that occurred in the1930s. The Great Depression varied across nations due to timing across the world, but for the majority of countries it began in 1929 and lasted until the late 1930s. The Great Depression was considered to be the longest, deepest, and also the worst depression of the 20th century. It had all kinds of effects in countries that were rich and poor. Cities and countries across worldwide markets that were hit extremely hard, countries that were especially hit hard were those that were dependent on heavy industry. Other sectors also hurt were construction, farming, mining and logging. But in some economies they had started to recover by the mid-1930s, but for many countries, the negative effects that the Great Depression had lasted until the start of World War 2. The 2008-2009 Financial Crisis The 2008-2009 financial crisis was the worst financial crisis since World War 2, it had threatened the total collapse of large financial institutions all around the world, which in return was prevented by the bailout of banks by national governments. Despite this stock markets had still
The Great Depression From 1929 to 1939 the economy suffered a worldwide economic depression. Known as the Great Depression, it was the longest economic downfall the Western industrialized world has ever seen. The start of the Great depression is believed to have been due to the collapse of the stock market on October 29, 1929. Wall Street, home to the world’s largest stock exchange was in fear as millions of investors suffered.
The Great Depression was devastating to many people. From 1929 - 1939 life was a struggle. This all began when the stock market crashed in 1929 causing a great effect on people. Most stopped using banks and no longer trusted them. Jobs were scarce and people looking for them were plentiful.
The Great Depression was a roughly 10-year period in the early twentieth century that was shaped by the United States’ national economic crisis, but affected the global economy, as well. It began in 1929, when the stock market first crashed and stock prices began to fall, but only 2% of Americans owned stock and were affected at this time. (1:48) It wasn’t until tens of thousands of people began to withdraw money from banks and hundreds closed across the country, leaving 28 states bank-less (5:32) that the population truly began to suffer. Unemployment rates skyrocket and more and more people begin to go bankrupt, with 34 million Americans left with no source of income by 1932.
The Great Depression was a severe worldwide economic depression in the 1930s. It was the longest, deepest, and most widespread depression of the 20th century. It challenged American families in major ways, placing great economic, social, and psychological strains and demands upon families and their members. Millions of families lost their savings as numerous banks collapsed in the early 1930s. In addition, farmers lost their crops and failed to make a living.
The Great Depression was the deepest and long-last economic downturn of the Western industrialized world that started when the stock market crashed in October 1929. That stock market crash led to consumers spending and investments
They are crowded, dirty, miserable, and they are places where the homeless gather to build temporary homes. The Great Depression was the greatest and longest economic recession of the 20th century. It began with the United States stock market crash of 1929, and didn't completely end until after World War II, in 1946. During the Great Depression there was a mass unemployment in America.
The Great Depression was a severe worldwide economic depression that took place during the 1930s. The article by Edwin Gay and pictures compiled by Cary Nelson are both descriptions of how the Great Depression was and the several impacts that it had on the American economy. The range of the great depression is unprecedentedly wide according to Edwin Gay. The great depression was believed to have started from the collapse of the US stock market in 1929. This was shown in a picture as compiled by Cary Nelson
he Great Depression was a time of huge economic downfall. During this time period people lost their homes, money, and everything they had ever earned. Millions of people were affected, including the middle and lower classes, who would just become poorer. People in upper classes, even dropped to the lower class. This downfall began on October 29, 1929, and the leading cause was the crash of the stock market.
The Great Depression was the worst economic downturn in the history of the world. It began in the United States when the stock market crashed in October 1929. Everybody was sent into a panic and millions of investors were wiped out. Unemployment levels began to rise after consumer spending and investment dropped, while stock prices continued to increase. Companies started to lay off their workers, and soon nearly thirteen to fifteen million people in America were without jobs.
The Great Depression The Great Depression was by far one of the worst times of America’s history, and the world’s history. The Depression affected everyone except for the politicians and the wealthy. During the depression a lot of people lost their jobs which caused the unemployment rate to sky rocket to 14% of America’s population was unemployed, and the number would stay their till World War 2, and the depression started in the 1920’s. Middle class workers were hit the hardest in the depression. Most of the middle class citizens lost their jobs.
The Great Depression was an economic downturn. It originated in America, but spread to affect the entire globe. It caused severe unemployment, and industrial production plummeted. The downturn hit rock bottom in 1933 when all commercial banks closed.
Beginning in 1929 a worldwide economic downturn the Great Depression began. It was the longest depression ever experienced lasting until about 1939. The Depression started in the United States, however because of the drastic declines in productivity, unemployment, and deflation the Great Depression was felt in almost every country around the world. Only the Civil War ranks ahead of the Great Depression as the gravest crisis in the history of the United States of America.
The Great Depression was a dark time in history where 13 million workers were jobless and companies were suffering. The Great Depression occurred in the 1930’s. Stock markets crashed, companies went out of business, and people were unemployed and poor. The president at the time, Herbert Hoover, was unsuccessful in his ability to stop the Great Depression which made lots of people head towards the president after him, Franklin Delano Roosevelt (FDR). FDR was successful and the Great Depression ended in 1939.
Nishat kazi (Muniya) 11th grade The Great Depression was one of the worst downturn of economy in the history that took place during the 1930s. It had a catastrophic effect in countries on both rich and poor. Though there are a lot of causes behind the Great Depression,the main three causes were-1.Bank failure 2.Stock market crash 3.laissez faire.
The great depression was the worst economic recession in the history of the industrialized world. Majority of the population was homeless and starving. People were running out of food and there were very limited number of jobs. Whenever a job came available, people were forced to move to support their families. The struggles and adversities citizens were obligated to face was unreal.