October 1929, the stock market crashed. Millions of investors went into panic. There was an incline in unemployment as companies laid off workers. Half the country’s banks failed. Meanwhile Hoover and other known leaders did nothing to resolve the crisis which caused matters to get worse. People began to lose their homes and everything they had. Before the Great Depression hit us, my life was perfect, now it’s falling apart.
My family and I lived Plainfield, New Jersey. We had a fairly large house with so many rooms and windows. It was beautiful. My father was a lawyer. He was a good one too. Did so many cases and winning them is what mainly got us to be able to live in that big house. He also invested in things too. My mother worked for this beauty company and that paid her well and got me a huge benefit of getting all the makeup could get. My siblings and I were so spoiled. Whatever we wanted we would get. My little sister asked for a pony, so she got one. Father built a little area in our backyard for it to run in. My little brother got so many toys, it was ridiculous. My older brother got his own car. I was extremely jealous but my brother felt bad and took me shopping. My family was definitely affluent before everything hit.
…show more content…
Mom lost her job, father lost a great deal of money, my brother lost his car. We couldn’t get what we wanted anymore. Father was struggling with his job as people began to panic. The first couple of years wasn’t as bad. We lost a few things but we were getting by. That was until our home was being taken away. We were kicked out and had no place to go. My father had found out about a place called Hooverville. It was a place for people who were homeless. When we went there it wasn’t exactly at all what I expected. There were tiny little shacks made out of scraps of metal and glass. We weren’t entirely fond of it but we had to make
Everyone experiences sadness — sadness is a part of life. However, with many people, their sadness can escalate into a feeling of emptiness and a lack of motivation. I have encountered this, and I am still dealing with it today. Few can remember the moment it happened, but I can. For me, my depression started on my 14th birthday. It happened during a sleepover at my house around 12 a.m. I can remember just laying on my couch texting my friend all content and the next thing I know, I just feel this empty sadness take over, it was unlike anything I had felt before. It had taken me awhile but eventually I realized what was happening to me. It started out as just sadness for a few years, then it morphed into this numbing emptiness. I could still
The stock market crash, called Black Tuesday. Unequal distribution of wealth was a key factor during the time period as well. The day know as “Black Tuesday” was the day the stock market crashed. This led to the fall of stock prices, in fear, people sold their stocks and gathered the money they could. The people who didn’t, lost all of their stocks. Those who bought them on credit, they were now in debt. Investors lost a collective amount equal to the amount spent in WWI, that’s billions of dollars gone, approximately thirty-two billion dollars (32,000,000,000). As bad as the crash was, unequal distribution of wealth did not help. The rich saw an income increase of 70%, and the poor saw an increase of 9%. More than 70% of families earned less than $2500/year. Many of these families couldn't afford household products, such as the flood of overproduced goods. Only one out of ten families owned an electric refrigerator. One thing many people overlook when on the subject of the Great Depression is the president's influence on the situation. The two presidents during this time were Herbet Hoover and Franklin D. Roosevelt. Hoover was in office during the collapse of the economy, he didn’t believe in national relief, he believed in self-prevalence and self-help. His beliefs didn’t get the confidence of the people, in 1933, a fourth of working American’s were out of a job, that’s more than fifteen million people unemployed. Many people disliked Hoover, so when they needed to make a home out of paper, glass, tin, or whatever they could find, they named the towns constructed from these items “Hoovervilles”. They were found mostly on the outside of cities. Hoover's idea of self-reliance didn’t get him reelected, he lost to Franklin D. Roosevelt in 1933. Roosevelt brought forward a new strategy to take on the economic problems, it was called the New Deal. The New Deal was a series of actions him and his
Depression placed a dark brooding shadow over my mind. I was weighed down, oppressed by the burden of having to carry on with life. In my mind, there was a crushing sense of hopelessness that I have never felt before. The only therapy I found was taking that beautiful, freshly sharpened razor to my left arm. A sigh of relief departed me as I watched the bright red blood drip from my vein. The only burden I had was going to school and hiding my war scars. Each day, the darkness spread through me like cancer. My body withering away, I needed an escape route from this crucial disease. This all continued until the day I saw a light and the darkness began to fade
The 1920’s and 1930’s represented a time of change for our country. Just as times began to pick up after the Great War, through technological advances, the nation collapsed. People began spending out of control, investing in stocks, and moving to the city. The stock market crashed in 1929, the effect was that many people lost their savings, businesses closed, and jobs were lost. This horrendous period is known as the Great Depression. Once again things began to look up as Franklin D. Roosevelt was elected for president and created the New Deal. This era reflects how human nature reacts to such change.
On Black Tuesday, October 29, 1929, the stock market saw its greatest crash in history. The next 10 years brought an economic depression the world had never experienced. Unemployment would soar, a banking crisis would lead to a global phenomenon, and Americans would find themselves struggling to survive. In addition, the government would step up their involvement in American lives, as they felt a responsibility to the people. This would lead to mixed feelings from the American people. The Great Depression affected people in many different ways. For some it led to their demise, while it brought others closer together than ever before.
Tuesday, October 29, 1929 – otherwise known as Black Tuesday, is the day of the stock market crash. This crash caused a sudden and drastic change in the economy while also starting The Great Depression which lasted from1929--1940. Because of The Great Depression, President Hoover was disliked across the country, so when the people were electing a new President they choose Franklin Roosevelt. The new President was exceptionally eager to put in new laws and programs into effect to pull the country out of the depression. Although Franklin Roosevelt's policies gave the public relief, his New Deal only helped the public in a purely phycological way. Not only did the New Deal worsen the economy, it also was hastily put together, and it effected people fleeing the Dust Bowl for "better jobs" in California.
This source discusses the great crash of 1929. The year 1929 saw the peak of the roaring ‘20s which was known as the “Bull Market” and the stock market collapse that led to the Great Depression. This source also discusses how one third of the U.S. workforce was unemployed which is also a reason for
The period of Great Depression 1929-1939 was very crucial, worst economic recession period in the history of industrialized world. October 24, 1929 was a day verifiably known as "Black Thursday", the United States securities exchange slammed because of financial specialists in the market beginning to "auction their offers, which brought about a decrease in stock costs” (Richard H. Pells, 2006; Christina D. Romer, 2008). This economic recession led to different consequences that caused lots of problems. Many banks failed, unemployment rose, world trade collapsed and there were many other problems that Americans were facing during this period. (History.com Staff, 2009)
The stock market crashed which led to less money, less production of cars, and less purchases of alcohol. It affected the world we live in greatly. The stock market crashed on October 29, 1929. It was commonly known as “Black Tuesday”. Obtaining enough food for a family was becoming difficult. Many individuals were out of work and unable to find a job that was willing to pay enough to help put food on the table. Vehicles were no longer selling due to the lack of financial funds. Music had nearly come to a halt and the parties of the roaring twenties became quiet. Even the middle class struggled to keep their homes. The middle class eventually started to allow people to board at their homes for a fee. The fee helped to pay for the home and the food the individuals needed. Eventually, the Great Depression came to an end. The Great Depression ended in 1939, nearly ten years after it had begun. Families were able to get back on their feet and begin to live a better
There are many examples during The Great Depression that showed the best and the worst in people while they went through hard times. Many people struggled with finding jobs, being fed, and taking care of their families and themselves. Some good things happened as well, the moment they heard they have been hired all you would see is a big smile on their face or when they they have a piece of bread in front of them which in their eyes was a feast.
The Great Depression, a year of extreme hardship and struggle for all citizens residing in Canada and the United States. However, before the Great Depression began, not many citizens would have been able to foresee the future they would experience when the stock market crashed. Yet, it should have been foreseen for at least five years. "Stock prices rose steadily for the five years leading up to the crash. More people began to buy and sell their stocks" (Schultz, 2006). Thus, the result was inevitable. After the stock market crashed, these free-spirited and kindred souls who once felt peace, would now be faced with the change of their lives. The people of North America were now in a time of both socioeconomic and economic hardship. The people that once associated with one another were now competing harshly for jobs.
On the 29th of October the stock market crashed which became to be known as ‘Black Tuesday’. On this day 16 million shares were traded after a wave of panic swept Wall Street. All of the investors that had bought stocks with borrowed money were wiped out completely. After this catastrophic day there was a massive downturn in factories and business. Many employers started firing off their employees, those that were lucky enough to stick with their jobs were getting really low wages. Many americans started buying stuff on credit, they later fell into debt. This Depression caused unemployment to rise to 25% by 1933. The Great Depression was not the only thing
A disaster that occurred in the economy was known as the Great Depression which affected people socially, economically, and politically. In 1928 President Herbert Hoover gets elected president of the United States. It was not easy for people at this time. They learn many things like once the banks recover they do not trust them anymore. The Great Depression lasted 10 years.
It was the stock market crash that nobody heard but could be felt deep in people's souls. The Great Depression was a long period of time that destroyed millions of jobs that people needed for money to survive. On October 29th, more than sixteen million shares of stock were sold, and a lot of it was worth nearly nothing. The Great Depression caused an increase in homelessness because many people were unemployed. Farmers and tenant farmers had it rough because there wasn’t any support for them. It wasn’t until President Franklin Roosevelt became president in 1933 and set up the Alphabet Agencies to help poor young men make money so that things improved. The Great Depression impacted many people including those in the cities, on farms, and part of the Alphabet Agencies.
The day was cold and rainy, and usually, days like these entails bad news. My dad came home with a grim look on his face and he said, “I lost my job”. I still remember that day like it was yesterday. The words struck me like a bullet and I immediately ran upstairs and cried. It was the year 2008, the time where the economic recession was occurring. Countless of people lost their jobs. At the time, my family and I were living in West Chicago, Illinois and I was very upset because I knew that my life was about to be turned upside down. We never imagined the economic decline would affect us, maybe we were in denial, maybe we should have expected the worst but nevertheless, it was shocking. Since after my dad got laid off from his job, we had no