In October of 1929, the Dow Jones Industrial Average fell 25% in four days, this is defined as the Stock Market Crash of 1929. Billions of dollars were lost, countless investors were crushed by the amount of money they lost, and a plethora of people were forced into debt. The Stock Market Crash intensified the Great Depression, which was was a time of economic calamity in America in the 1920’s and 1930’s. The Great Depression was caused by the consolidation of overproduction, false prosperity, unemployment, banking crises, and the stock market crash of 1929. The overproduction of farm products, due to improved technology, and false prosperity caused deflation, which was a reason for the Great Depression.
THE GREAT DEPRESSION 1929 was the start of the deepest and darkest time for the United States Stock Market and the people of the United States. The Market crash, the loss of American jobs and homes, lead to one of the hardest downfalls in American history. Along with billions of dollars lost due to bad stock trading, over extending on personal credit and the spending of money that had yet to be produced. The American people never stood a chance and in a matter of 10 days the lives of almost everyone changed. In 1928 Herbert Hoover was elected as president.
Everyone has depression, but did you know on October 29, 1929 the whole US went into depression. People lost their jobs, people lost their homes and lot’s of other things. Every bits and piece was super valuable at that time. Some effects the Great Depression had on people at that time was people lost their money. In an article called Digging In by Robert Hastings a girl explains how importants every minute of light is.
The Great Depression of 1929 was one of America’s most influential downfalls that crippled society for years. The depression caused many years of failure and poverty for almost all of society. The government’s role during these times was crucial and critical for turning around the economy. The depression had a major effect on government’s power and involvement with the people and states. The government was less involved before the depression.
The United States lost 343 firefighters and this was a huge impact on many families and engine companies. “On Sept. 11, at the World Trade Center, it suffered the loss of 343 firefighters,” (Frazier, 1). Many fire departments lost many crew members and brothers. This affected many families. This also affected the economy too.
During the 1929 - 1939 many people were in debt and a lot of jobs were lost.The Great Depression was bad it affected the whole world, the hoover dam was created and the welfare system was also a result of the Depression. The Great depression had alot of effects on people and the world. The trading routes with other countries to America stopped. When the trading routes shut down alot of people lost their jobs. Many teachers in schools were forced to stop working because the government could no longer pay them.
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 first cause of Great Depression was bank failure.It was one of the main causes of the Great Depression.Throughout the 1930s over 9000 banks failed.In 1920s there were a lot of banks.At the beginning of 20s Nebraska had a lot of people.Every town had banks who were trying to take in deposits and loan out money to farmers and businesses.As the economic depression became deeper in the early 30s and as farmers had less money to spend in, town banks began to fail at an alarming rate.And the bank which were not damaged by the agricultural crisis competed with each other.To get more deposits from the peoples the banks raised their interest rate.And to cover up the expense the banks have to get the money from the interests they get on loans.The banks also gave loans to the stock market brokers and as the stock markets failed the bank couldn’t get the moneys back as a result they failed.And this bank failure along the stock market crash caused a great harm to the Us economy. During the mid 1920s the stock market went through
Around this time in the United States, the Great Depression had taken place. Many people lost their jobs, homes, and families. Some people even died due to dehydration from lack of access to water, food, anr from general illnesses. This particular economic catastrophe hit children hard especially. This is depicted in the same excerpt mentioned before.
Fear in its most devastating form is present in major incidents where hundreds of people share a common fate. Hurricanes, earthquakes, floods and famines take thousands of lives and place people in a state of fear for months. The passengers on the Titanic and those involved in major air crashes are stricken suddenly with fear. The horrendous tragedy of 9/11/2001, when terrorists struck the World Trade Center in New York, is an example of the totality of fear. Thousands of people were trapped and died, and we can only imagine the fear they experienced.
The Great DepressionTopic: the great depressionQuestion: How did the great depression affect americans?Thesis statement:The great depression affected americans because it destroyed their economy. Millions of families lost theirs savings as many banks collapsed in the 1930’s.The Great Depression was the worst economic drop of all times in the industrial world1. The Great Depression began because of a stock market crash in 1929 and came to end ten years later in 1939, around 15 million americans were unemployed and about half of the American banks failed. It was one of the darkest era in the United States.When the stock market underwent rapid expansion, the production had been declined and unemployment had risen, leaving the stock prices higher
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.
Steinbeck’s works mirrored the time period Steinbeck lived in. Many say the series of American crisis that took place during Steinbeck’s lifetime became the backbone to many of his stories. Through years 1929 and 1939, America was in its most “deepest and longest-lasting economic downturn in history.” (“The Great Depression”) Unemployment rates skyrocketed leaving 13-15 million Americans left feeling hopeless. Millions who were left unemployed tried to find work elsewhere but were unsuccessful because of the many businesses that were forced to shut down. Through 1930 and 1936, severe dust storms plagued 60 percent of America’s Midwest causing great damage to U.S. agriculture.