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What Was The Cause Of The Great Depression

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The Great Depression is one of the biggest and ugly downfalls in American history. The Great Depression had started when the stock market crashed in a big way to where Wall Street just went down in the a panic and a lot of investors went out business because of it. Over the years, all the investments and the consumers had fallen in a deep drought of employment. Companies had lost their workers by the late 1920s. The has reached it lowest point of time in that period of time. The cause of the Great Depression was how a lot of millionaires used their tycoons to cooks to janitors where it just went down in their savings. That’s when the stock market had crashed. A lot of banks had failed during the late 1920s and that is also a reason to why the stock market had crashed in the first place. …show more content…

The confidence of Wall Street was destroyed in there Street markets to where it led the Great Depression. It also crashed when Herbert Hoover was the president during that time. Then, he created the “Hoover bull market” and it went high in there savings in there securities and profits. Billions of dollars were getting drawn from their banks to Wall Street for what was happening to their downfall of money. It was on that day were the real panic of the Great Depression was about to happen. On October 24, a lot of investors were losing a lot of money that rushed them to a salvage point in their time. This day was known as Black Thursday. A lot of banks was closing because of this a lot of banks in their stocks was in panic of how their market had

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