Although the Great Depression was relatively mild in some countries, it was severe in others, particularly in the United States. By 1928, Germany, Brazil, and the economies of Southeast Asia were depressed. By early 1929, the economies of Poland, Argentina, and Canada were contracting, and the U.S. economy followed in the middle of 1929. In almost every country of the world, the Great Depression caused drastic declines in output, severe unemployment, and acute deflation. Its social and cultural effects were no less astounding, especially in the United States, where the Great Depression represented the harshest adversity faced by Americans since the Civil War.
Many were out of a job, and others experienced pay cuts and reduced hours. The Great Depression affected the economy in the United States and throughout the world by businesses reducing their goods and services by half the amount of the 1920s or they went bankrupt. Europe could not buy American goods or pay America its debts, which Caused unemployment to rise. People during the Great Depression could not afford rent or food because there were no jobs so they lived in shacks.
Stock Market Failure- Tyler The day the stock markets failed or Black Tuesday, October 29, 1929 In fact, it was one of the major causes that led to the Great Depression. Two months after the original crash in October, stockholders had lost more than $40 billion dollars. Even though the stock market began to regain some of its losses, by the end of 1930, it just was not enough and America truly entered what is called the Great Depression. Coming out of World War I, America was high-rolling. With new products, the automobile, washing machine, and the vacuum and many more.
Many Americans found themselves lacking money during the 1930s as the supply of money became unable to keep up with the demand people had for it (Wicker 994). The banks closing and people losing money or property due to loans, left people in a state of poverty as they lacked the money to do anything about it. Alongside the Great Depression, the Dust Bowl occurred as well. Many American farmers faced large dust storms during the 1930s, causing changes to their livelihood and state of being (Lookingbill 1). These dust storms made changes to the Great Plains, forcing away a large number of farm families.
“On October 24, 1929 prices on the New York Stock Exchange collapsed. Losses estimated between $8 billion and $9 billion”( Account of the Stock Market Crash of 1929, October, 1929). As a result, the “Great Depression” was a period of severe economic hardship that began in 1929 and lasted most of the 1930’s. Therefore, many Americans lost their jobs, homes, and their savings. “The Great Depression affected many countries worldwide.
Everybody lived life like they were supposed to. Not a lot when down, until on October 29, 1929 the Stock Market crashed causing the Great Depression. It caused a panis all around the world. This cause almost 200,000 people in America to lose their jobs. The years out of the initial crash there was 30 million citizens out of jobs or income.
The Great Depression was an austere economic depression that began in the late 1920’s and spanned until the late 1930’s. It was the longest and most widespread economic downturn in the history of America. It was characterized by the devastating effects it had on the United States. Personal incomes, tax revenues, profits and prices dropped, while international trade plummeted by more than 50% and unemployment rose to 25%. People all over the country were all impacted by this prolonged recession.
The Great Depression was the worst economic downturn in the history, which lasted from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Spending began to drop, and it caused declines in employment and some companies began to lay off workers. By 1933, the Great Depression reached its lowest point and millions of Americans were unemployed. The 1920s consisted of dramatic social and political change.
The Great Depression was the severe economic downturn that affected western industrialised countries, in particular, Weimar Germany. The infamous Wall Street Crash of October 1929 in the United States had triggered the beginning of the Great Depression as millions of investors on Wall Street were extinguished. Although the effects of the Great Depression had only started after 1929, a few events commencing from 1923 had been as significant in contribution to causing the Great Depression as the Wall Street Crash was. These events are subject to debate as to which were considered more or less significant as they were all influencing factors to the Great Depression that affected Germany and its history. On October 24th 1929, share prices on
Fashion During The Great Depression The Great Depression was one of the world’s biggest economic downfall. It started around 1929 and ended in 1939, it lasted 10 years. The Great Depression was caused by the stock market crash, which happened when nine thousand banks failed. Some of the causes of the Great Depression were unequal distribution of wealth, high tariffs and war debts, over production in industry and agriculture, and the stock market crash/financial panic. The Great Depression affected literally the whole world, it started a widespread of hunger, poverty, and unemployment.