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.
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.
People all over the country were all impacted by this prolonged recession. Many people slumped into poverty and became homeless and unemployed citizens. This immense downturn was due to overproduction, the Wall Street crash, and the weak banking system, the European recession, the Gold Standard and the policies implemented by the Hoover administration. The depression lasted for over a decade before an economic upturn began to take hold. This marked the end of the Great Depression in the 1930’s.
A. Explain the major causes of the Great Depression There were an innumerable of causes to the Great Depression from the Black Tuesday, economic policies and even a drought in America. To kick off the Great Depression the stock market crashed and $40 billion dollars in American assets were lost in the blink of an eye on what is recalled as Black Tuesday. This affected nearly 700 banks that all eventually failed and caused the many other banks that were able to stay afloat to become reluctant to loan any money out. Without new loans, there was no new money to be spent, causing the government to enact economic policies.
“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.
“The second year of the reign of Valens (366 CE)... the Roman world was shaken by a violent and destructive earthquake.” “But the tide soon returned with the weight of an immense flood which was severely felt on the coast of sicily, Greece, and Egypt… Fifty thousand persons had lost their lives in the flood.” After Rome lost 50,000 people in the flood the plague killed thousands more. “The resulting disease decimated the population. The population of Rome decreased from a million people to 250,000.” This disease caused the population to decrease severely, and most of the people in the army died as well so they had very little and weak military power.All of these things are happening to Rome and it is causing them to become very weak and have almost no military power because know they only have 250,000 people in all of Rome compared to what they used to have, 1 million. All of this helped play a significant role in the fall of
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.
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.
A few months before the stock market downturn, the national economy was slipping into recession. Industrial production, wholesale prices and household incomes decreased. During the black days of October 1929, over 30 million securities were sold (Amadeo). Due to the exchange crash, thousands of investors lost their funds. Overall losses were almost $30 billion (Amadeo).
In social aspect, Germany faced food shortage and great casualties and destruction after WW1 and WW2. But the number of casualties in WW2 is larger than that of WW1. In WW1, the total deaths is2, 476,897 in WW1.IN WW2, the total deaths is 8million in Germany. And both caused unemployment because after the soldiers' return, they could not find jobs. And most of the Germans faced psychological trauma, social mobility was weakened.