The Great Depression And Its Effects

The Great Depression lasted from 1929 to mid 1940s. It was a time of misery and suffering for everyone around the world. The stock market crash caused millions of people to end up without a job and hungry. Up to 7 million people worldwide lost their lives. This devastation made many families start over and begin again.

Sleepless nights, drowning debt, suicide attempts, and the inevitable fall towards unemployment. These are the things that not only make up but almost define the title “The Great Depression.” The Great Depression was a collapsing disaster. One after another, the government along with society fell to their knees. Stock markets crashed leaving most Americans bankrupt and on their own to support themselves and their families off of loose change. Jobs were as rare as ever, people went unemployed left and right. People were left to fend for themselves on the streets

America’s agricultural economy had already been suffering for a decade when nature conspired against the country to exacerbate the Great Depression. From 1931 through 1939,

The Great Depression started in 1929 and lasted up until 1939. It happens to be the worst economic downturn for the United States and the the rest of the world. It caused companies and corporations to eventually go bankrupt as well as workers to be laid off. Another effect of The Great Depression is that factory production was reduced, and the banks started to shut down. In the lowest point of The Great Depression in 1933 nearly 15 million workers in America were unemployed and one half of the banks started shutting down.

The Great Depression started in 1929- 1939, it was the deepest and longest - lasting economic downturn when a stock market crashed. Many people have lost their jobs and they couldn’t afford bills. Birth rates dropped because people could not afford to care for children, and divorce rates dropped because people could not afford legal fees. The Great Depression caused many effects on the American people.

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 in the history of any land. The poorhouse is vanishing from among us."1

The Great Depression was the worst period of economic decline in U.S. history. It began on October 29th, 1929, and was officially declared over, in the year 1939, once the second World War was commenced. There were many factors that both influenced, and made the Great Depression even worse. A few examples of this are: During this time period, many Americans had money invested in the stock market, and once they saw that somebody else began to sell their stocks, they sold their own. On October 29th, people began to sell their stocks at an extremely rapid rate. Due to the rapid rate of stocks being sold, people lost countless amounts of money, and eventually ran to the bank to take out whatever they had in there. However, these banks were

Countless American farmers were faced with many challenges and problems during the 1920s. At this time, farmers made up one-fourth of the American workforce. During the World War 1, farmers were forced to increase their harvest yields and need to buy more land as the demands for crops was much greater. In addition to these expenses, things such as costly tractors and other mechanized farm equipment were added causing them to become contracted to huge debts followed by mortgage payments. The crisis caused the drop in the value of agricultural products. As a result, for the years 1929-32. The incomes of farmers decreased by 58% (reaching 4 748 million dollars instead of 11 312 million). At the same time, the value of industrial goods did not fall so noticeably that it did not allow farmers to purchase the necessary technical means and equipment for work. Most of them went bankrupt, unable to withstand against the background of low prices for agricultural products and high on industrial payments of taxes and land rent. They accounted for about 40% of their annual profits.For this reason, by March 1933, 897,000 farms had been sold (approximately 14.3% of all available in the US). By 1934 the collection of wheat was lower by 36%, corn cobs by 45%. Some farmers refused to use the money, switching to natural exchange. They lived, forming settlements and producing everything they needed for their

Following WW1, in the 1920’s, American firms yielded high profits and continued expansion. According to ushistory.org, “By 1929, companies had expanded to the bubble point. Workers could no longer continue to fuel further expansion, so a slowdown was inevitable.” There was a ton of over production and a lack of consumers purchasing goods. In addition to this, there was over production in agriculture which meant lower prices. These issues put farmers in debt. Historically referred to as Black Tuesday, the stock market crash in 1929 was a major contributor to the depression.

     The Great Depression was a huge economic downfall in North America and involved many other industrialized countries of the world. The Depression began in 1929 and lasted for about ten years. Millions of people lost their jobs along with many businesses going bankrupt. The common misconception of the Great Depression is people think that the stock market crash was the main cause for it. There were many causes for the Depression; unequal distribution of money during the 1920’s was the main cause of the Depression. This unequal distribution happened on many different classes of people. The imbalance of money is what created such an unstable economy. The stock market was doing much worse than people thought

During the Great depression, the whole economy suffered through economical, social, and psychological strains on families affecting everyone differently. The Great depression first occurred in 1929 when the Gross domestic product kept declining, but did not fully affect the economy. Wall Street was blamed when it crashed a few months later causing investors to panic and sell their shares of stocks because they lost faith in the American economy. Over the next years, consumer spending and investments dropped, causing steep declines in industrial output and employment as failing companies laid off workers.

The severe economic downfall during the period from 1929 to 1941 is known as The Great Depression. The stock market crashed and millions of people lost their jobs and ended up homeless. It was one of the most terrifying eras in the US’ history. Industry and agriculture were both major causes of the Depression. Many things were replaced due to the fact of development of the technology. For example, railroads lose to automobiles and coal loses to hydro elective , natural gas, and oil. Also, fewer houses are built because almost all of the industries were declining, so businesses also declined since there was no one to built houses. Furthermore, businesses who relied on or were related to those industries were also dragged down, such as wood companies, furniture factories, and real estates. This was the same for railroads and coal as well. Another significant cause was the decline of the agriculture. Farms over-produced during World War I in order to feed Europe, and corn and wheat tool out loans. Farms cut down trees to try to extend their land to produce more crops. However, since there were no more trees, the soil got loose and became easily picked up by the strong winds. This created huge dust storms, which also had nothing to stop it, and became known as The Dust Bowl. After the war, the crops declined 40% and the prices dropped as farms produced more. These unfortunate cycles lead to the depression. The president at the time was Herbert Clark Hoover, who was elected in

The Great Depression was a time of profound social, political, and economic change in America. “It was the deepest and longest- lasting economic downturn in the history of the Western industrialized world” (The Great Depression). It started in 1929 and lasted until the early 1940s. It affected each nation differently, but was severe in most places.

The great depression lasted about a decade starting in 1929 and was the economic downfall of the United States. The great depression was formed by a series of events that mainly stated with the stock market crash of 1929 where stock brokers ended up losing up to $40 billion only two months after the primary crash. Throught the 1930s over 9,00 banks failed and money deposited by peoplpe was uninsured and simply lost for good and the remaining banks stopped giving loans for fear of failure. This resulted in yet another factor contribution to the drepression which was consumer spending, with most families loosing savings and unable to obtain loans they cut back heavily on spending resulting in less demand for products and people were lossing their

The great depression was one of the worst economy issues we have ever had in history. It was a hard time for everyone. The great depression started in 1929 till 1939. Tons of banks closed down and about 9 million savings accounts were lost. Tons of companies and factories went under. About 15 million people were unemployed.