Short And Long Term Causes Of The Great Depression

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When a person hears the word “The Great Depression,” almost everyone thinks the worst economic times in the United States. The Great Depression started in the late 1920’s and continued till the early 1930’s. It was the most worldwide economic down spiral in history. It remains the most important economic event in America history still today. This tragic event caused hardship for millions of people and the failure for many businesses, banks, and farmers. There were many factors and long term causes that development in this tragic event. In 1929 the stock market crashed, triggering the worst depression ever in history. The economy was collapsing and United States was being to enter The Great Depression. When the Great Depression hit it was terrible period, and many people struggled to get by. A lot of folks already borrowed money from the banks to purchase their stocks, now that the stock market crashed the…show more content…
Hebert Hoover appeared as a well fitted to sustain the Nation’s affluence, unlike the conservative ways of Harding and Coolidge. Hoover social and political philosophy reflected his engineering background. He seemed ideal to become a president, due to the new technological age. Hoover was more a promising candidate then Harding or Coolidge. Hoover came with more ideas on the problems that the United States was up against; like the Great Depression. 5. There are many factor that cause the Great Depression. The overproduction of too many people being layoff, due to the factories going out of business. There was a crisis in the farming after the war deflationary and the prices dropping, with reduced demand on the same supply. People’s homes where foreclosing due to not be about to pay them. The banks where going bankrupt due to many loans they gave out. The stock market started to crash because people started to borrow money they invested to survive. Depression was a very hard time but it took all these other factor to cause the Great Depression to
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