The Great Depression Caused The Depression

998 WordsApr 9, 20164 Pages
The Great Depression began during October 1929 and ended during 1939. President Herbert Hover was the president of The Great Depression the causes of the depression has many different factors that played into it. When Wall Street crashed during 1929, approximately 10 to 15 billion dollars were lost because the prices of the stock market which started to decrease rapidly in just 24 hours. Many of the causes of The Great Depression were that there were a lot of overproduction of consumer goods which resulted in the decrease in demand, another reason was that there were many bankruptcies and high level of debt, and finally in 1932 the Dustbowl which hurt farmers ' crops destroying land and causing people to either become employed and or even homeless. During the Roaring Twenties, the Middle-Class Americans live life really happy and had a lot of luxury goods. Industries have also had an economic boom during the 1920s. Many people in the middle class had lots of things to do that were exciting, new ideas were starting to develop and people felt invincible and overconfident believing that the age that they are living right now won’t ever go away or ever end. The main reason why people called it the Roaring Twenties was that there was a rise in consumerism and lots of people were encouraged through media to buy new products and spend more on things that advertisement persuade them to buy. Advertisements increased sales and with that knowledge in industries people were
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