The Great Depression In The 1930's

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The Great Depression affected everyone rich and poor, with 8.02 million americans unemployed by 1931. With home foreclosures and no food to put the dinner table and no one to turn to for help or answers. All anyone could was hope and pray for a job even if that meant leaving your family to earn money to send back home. Making it the longest and deepest most widespread depression of the 20th century. The Great Depression had a major impact on the u.s. Economy and lifestyle of americans in the 1930s because of the stock market crash, what the banks did wrong and daily struggle. On october 29, 1929 when the stock market started to look bad shareholders tried selling before prices plunged even lower causing 16.4 million of shares to be dumped. “Additional millions of shares could not find buyers. People who had bought stocks on credit were stuck with huge debts as the prices plummeted,while others lost most of their savings.” (pg.674 The Great Depression Begins).. The crash generated uncertainty about future income that led consumers to put off purchases of goods. This caused consumer purchases of durable goods, and business investment fell sharply after the crash. After the stock market crash many people panicked and ran to the bank to withdraw their money. But many couldn’t get there money because the banks had invested it into the…show more content…
There were many things that helped the US get lifted out of the great depression but one would be the New Deal. The New Deal was a series of programs enacted in the US between 1933 and 1938. Including laws passed by congress as well as presidential executive orders by franklin D. roosevelt . Relief,recovery and reform. Relief for the unemployed and poor, recovery of the economy to normal levels and reform of the financial system to prevent a repeat depression. Also the Federal Reserve Bank began to put money into the banking system letting money flow through the economy and the credit was loosened making the investments
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