The Great Depression was devastating to many people. From 1929 - 1939 life was a struggle. This all began when the stock market crashed in 1929 causing a great effect on people. Most stopped using banks and no longer trusted them. Jobs were scarce and people looking for them were plentiful. Those who got them had to work hard and got low pay. People lost their homes because they could not pay rent. Many people lost everything including almost all their money. The Great Depression had many effects on American people. What happened to all the banks then? Well first off people had complete trust in them, that is until the stock market crashed. Banks had invested a lot of money in the stock market also. But when it crashed they lost it all and
Although the 1920’s were booming and prosperous, the United States soon entered a prolonged economic depression. In October of 1929, prices in the stock market began an uneven downward slide (Document 2). As investors decided that the previous boom in the stock market was over, they sold more stock, thus causing the declination to increase even further. Many citizens of the United States were greatly affected by this. Families who had invested in stock lost most, if not all, or their life savings.
Many Americans lost all their money to the stock market when it crashed in 1929. Americans looked to President Hoover to end the depression. Most of Hoover’s policies were not likely to end the Great Depression. For example, President Hoover believed if the government could save business’ like banks, railroads, insurance, etc. that it would stop business collapse.
This continuous rising of the stock market was in a deep increase and the stock market made a lot of investors to dump their shares. Shares were sold to people, and a lot of people borrowed money from banks to buy those shares with the hope of economy getting better soon. But as time went on the stock market fall became so severe that those who borrowed money to buy shares were faced with a lot of danger. And they were finally wiped out because of how worthless their shares became in the market. The dumping of these shares by the investors put bankers in a high risk of losing money.
The roaring twenties, the decade that followed World War I, led into the Great Depression the deepest and longest-lasting economic downturn in the history of the western industrialized world. The main conflict during this Depression was the altercations with foreign countries. foreign countries would come into the United States looking to make a sale, which they would sell their goods for a slighter better price than the American. That would lead to Americans seeking for business and low on income which made the Depression already worse. This led to foreigners stealing money that was suppose to go to the United States.
Crop prices became too low for farmers to pay off their land, causing it to be mortgaged. They became plagued with debt, while small banks, especially those that were associated with the agricultural economy, remained under constant pressure in the 1920s as their customers continued to fail their monetary legal obligations (default on loans). This caused many small banks to fail. Larger banks were also majorly affected as well; some of the country’s largest and most powerful banks were investing carelessly in the stock market and giving out imprudent loans. After investors began to speculate rashly and buying stocks on margin, the stock market crash after massive sell-offs began, causing all these banks to suffer immense losses that were greater than the amount they could take
The great depression was basically an economic downturn which lasted from 1929 to the early 1940s, it was an over-the-top stock market and a drought that hit the South. In an attempt to end the Great Depression, the U.S. government took direct action to help fix the economy. With this help, the Great Depression finally ended with the increased production needed for World War II. The great depression began right after the stock market crash on October 1929 causing a huge panic on Wall Street, this caused many investors to be wiped out. Several years later you could see that the consumer spending and investment dropped causing a decline on the industries and high unemployment was at its peak laying of millions of workers, by 1933 about 15 million people were unemployed
They had to start selling items to make enough change to buy food each day. The great depression wasn’t so great after all. People lost their properties, clothing, and couldn’t afford basic essentials. People started to rely on the government giving them money but at some point everyone was on their own and it was truly a disaster.
Poverty increased as more people lost their jobs. There were troubles everywhere. Banks were closing and other countries were getting affected by this terrible economic downfall. At one point the economy was down by 33%, the unemployment rate was 25% and banks were going bankrupt. This was the start of the Great Depression.
The Great Depression was an American crisis, right after the Roaring 20’s, where the stock market crashed and forced many people into poverty. The Great Depression affected many people and businesses across the USA. Banks were greatly impacted by the Great Depression. They were giving away money they didn’t have, which eventually led to them taking from their customers accounts to pay people that were walking through the door.
The Great Depression was catastrophic. It was a critical time period in our history when our economy crashed. People lost their jobs, and families became homeless. Today, 564,708 people are homeless. Back then, two million people were homeless.
The Great Depression was a devastating period in United States History, the economy collapsed, and a staggering 25% of the population was unemployed. During this time, there were large wage disparity gaps that were very prevalent, there was no middle class, you were either wealthy or you were poor. It was hard for family life to continue, parents had to take up two and three jobs to make sure their kids were staying safe, and well. Most of these jobs were odd-jobs, and were temporary with no sense of security. It was a struggle to find work, and no job was too demeaning for you to do, because you may not find work again.
The following investigation will focus on how different aspects of the Great Depression significantly affected the way middle-class Americans lived their day to day life. To understand the effects of Great Depression, it's important to know what the great depression was. The Hard Times, were a time of economic downturn that started in as early as 1928. The beginning of the Great Depression in the United States is associated with the October 29, 1929, stock market crash which is now known to us as the Black Tuesday and the end of the depression period is associated with the start of the World War II, in around 1939.
The Great Depression The Great Depression was by far one of the worst times of America’s history, and the world’s history. The Depression affected everyone except for the politicians and the wealthy. During the depression a lot of people lost their jobs which caused the unemployment rate to sky rocket to 14% of America’s population was unemployed, and the number would stay their till World War 2, and the depression started in the 1920’s. Middle class workers were hit the hardest in the depression. Most of the middle class citizens lost their jobs.
To begin, the Great Depression took a great toll on the typical American man. Many got fired from their jobs causing unemployment. It was almost impossible to get another job so they were stuck living with no money at all. Not having money caused most men to struggle with bills. Because they couldn’t pay bills they went into debt.
The 1930 painting titled “American Gothic” illustrated by Grant Wood is perhaps one of the most renowned and recognized paintings in American history. It has continually maintained a role throughout numerous popular culture references, and is considered by many to be possess a definite historical value. That does not go without saying, however, that this detailed portrait doesn’t have an assured extent of persuasion appraisal, an amount that has carved both the piece and its illustrator a notch in history. The Great Depression was one of the most chastening, degrading periods of time in American history.