The Great Depression was an economic downfall throughout America during the 1930’s. It was know as the longest-lasting economic downturn in history on the western industrialized at that time. This downturn went into effect after the Stock Market Crash of October 1929. This sent Wall Street into a great panic and essentially wiped out millions of investors. Over the years, consumer spending dropped causing a decline in the industrial output. By 1933, the Great Depression reached its lowest point and
The Great Depression was when everyone was penniless, out of work. Some of the people didn't even have homes. When the New York stock market crashed, everybody became poor. Millionaires were just as poor as the ordinary citizens. The everyday civilians lost everything their homes, their jobs, their money, it was a bad time for everyone. Soon it spread to the rest of the country. Then everybody's savings disappeared. It was one of the worst disasters the world has ever known. Barely anyone was in
The Causes and Effects of The Great Depression In America Few Americans in the first months of 1929 saw any reason to question the strength and stability of the nation's economy. Most agreed with their new president that the booming prosperity of the years just past would not only continue but increase, and that dramatic social progress would follow in its wake. "We in America today," Herbert Hoover had proclaimed in August 1928, "are nearer to the final triumph over poverty than ever before
One of the bleakest economic downfalls in the United States was during the era of the time known as "The Great Depression." It lasted for ten years from 1929 until the year of 1939 in the United States. It originated in the United States, mostly effecting the years of 1930's. The events of the Great Depression spread across nations and ended for some countries as late as 1941. The Great Depression not only effected the economic life of the American citizens, but also the spirits the people. The feeling
crash of 1929 was the main cause of The Great Depression. In fact, The Great Depression was caused by a series of factors, and the effects of the depression were felt for many years after the stock market crash of 1929. By looking at the stock market crash of 1929, bank failures, reduction of purchasing, American economic policy with Europe, and drought conditions, it becomes apparent that The Great Depression was caused by more than just the stock market crash. The effects were detrimental beyond the
The major cause for the Great Depression was the fact that Americans began to buy goods on credit and that some bought stocks on margin. During the Roaring Twenties, various new products, such as vacuum cleaners, electric irons, fans, cars, radios, and others, began to be manufactured and introduced into the market. By 1923, there were over 500 radio stations that existed in the United States and there were over twelve million radios that were in American homes. Since these new products were
The great depression was the longest economic failure and cost many their jobs. Is started in 1929 and had lasted till 1939. The great depression depressed almost the all of the united states and sent many people to commit suicide for they had lost everything. The great depression started after the stock market crashed this uproars caused many envestors to lose their jobs and their life's work. Thi was a huge panic two all of wall st. The great depression caused just awful things to happen with
It was October 29, 1929, also known as black Tuesday. The Great Depression had begun. We are going to backtrack a little-bit to before the depression. The Depression was during the 30’s, the main idea here is the “causes”, including: the roaring 20’s, Black Tuesday, and bank failures. The roaring 20’s was a time of electricity and new inventions such as the automobile. Everybody wanted all of these new things although they did not have any money. The strategy they used-installments. They asked
The Great Depression started in 1929-1939 all because of the Wall Street stock market crash. Wall Street went into a huge panic and wiped out millions of investors. Consumer spending dropped and unsold goods piled up. Millions of Americans lost their jobs and banks closed. Families that lived in suburbs lost there homes because they had no money, they had to move into “Shanty towns” also Known as Hoovervilles. Families built communities made out of cardboard boxes ,lumber,tin,tar paper, and whatever
The Great Depression is a defining moment in time for not only American, but world history. This was a time that caused political, economical, and social unrest. Not only did the Great Depression cause a world wide panic, it also caused a world wide crisis unlike any before it. This paper will analyze both the causes and the effects of the Great Depression in the United States of America. One cause of the depression is the effects of World War One. World War one had many devastating effects on countries