The Decline Of The Great Depression

863 WordsOct 22, 20154 Pages
The Western Industrial world was in one of the deepest and darkest times during the Great Depression. The Great Depression had started in the year of 1929 and lasted ten years, where it finally ended in the year 1939. This time had all started when the stock market had crashed in the year of 1929. When this occurred everyone started to panic because they knew that the investments and spending would decline tremendously. As these companies were taking hits they started to lay off their employees and then there was a rise in unemployment. By 1933, they had stated that anywhere from 13 to 15 millions of people were unemployed. The crash of the stock market had occurred because consumers were not spending near enough on products. So the products are becoming unuseful and they are just collecting dust. As consumers were not spending, the stock prices kept jumping up which then caused the bubble to burst and crash. On October 24, 1929 is when 12.9 million shares were traded and this is known as black Thursday. Five days later on Black Tuesday another 16 million shares were sold. During that time if you had purchase stock on margin you would receive anything. After the crash, people were having to live off what little income they had and start paying purchases by check and card. The Great Depression ended up spreading to other countries beside the United States. Herbert Hoover and his administration had made a mistake by telling them that this just need to run its
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