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The great depression and it's impact
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The Great Depression The Big Picture The Great Depression was the longest and most severe economic decline in American history. On October 29, 1929, the stock market crashed and began the depression. Although industry leaders issued optimistic predictions for the nation's economy, the market crash wiped out nearly 40% of the paper values of stocks. Great innovations in productive techniques during and after the war raised the output of industry beyond the purchasing capacity of U.S. farmers and working force. As a result of this, unemployment skyrocketed during the years of the Depression, reaching levels as high as one third of the population. Almost half of the commercial banks of the United States failed during the Depression. Crop prices fell by over fifty percent. People went hungry because so much food was produced that production became unprofitable. Others were unemployed because they had produced more than could be sold. Hundreds of thousands roamed the country in search of food, work, and shelter. Huge numbers of Americans had their lives upset by the Depression. Homelessness, poverty and despair characterized much of the nation in those days. Many of those who could not provide for their families, in larger cities as well as smaller towns, committed suicide to put an end to their troubles. Small Town Life The depression was not limited to the confines of large cities, it spread like a disease throughout our great nation. It even managed to find its way into the small town of Oakesdale, Washington. Frances Taylor, a mere child at this time clearly remembers the events that took place. "As children, we weren't really aware of what was going on. We simply didn't understand the concept of being poor." Many fam... ... middle of paper ... ...ovided the initial 63 million dollars for the project to begin. "My father found work by being part of the construction of Grand Coulee Dam. He would stay on the site while our mother took care of the children back in Oakesdale. He would send the money back to support the family." The Grand Coulee Dam would provide many jobs for the unemployed as well as be used in the upcoming war. It was used primarily for irrigation at first, but as the war progressed it was changed to produce more electricity for the Northwest's aluminum industry. The beginning of World War II would prove to be the factor that directed America out of the Depression. How ironic, that such a horrifying event could spur an economic rejuvenation. The Depression was a trying time, America was at a loss for words and money, but as a nation, we pulled together and got through the worst of the worst.
The Great Depression is a sad era in United States History. The Great Depression was a massive economic depression. It affected many people’s lives across the United States. People’s lifestyles changed dramatically going into the Great Depression. There were many factors that caused the Great Depression.
The great depression was a very sad and hard time. This was a time where people had little money, no available jobs and just had a hard time with everything. Many people had nd any way to make money whether it was cutting kid’s hair in neighborhood, picking fruit, selling iron cords house to house or even painting a house for 5 dollars. Even though this was a very hard time some people still had hope that things would get better. This was a really bad time until Franklin Roosevelt who was for the government supporting the Americans and not the other way around became president.
During the 1920's America experienced an increase like no other. With the Model T car, the assembly line, business skyrocketed. Thus, America's involvement in World War II did not begin with the attack on Pearl Harbor. Starting in October 1929, the Great Depression, the stock market crashed. It awed a country used to the excesses of the 1920's.
The Effect of the Great Depression on National and Individual Morale The Great Depression of the 1930’s was an era of hopelessness and fear for many. Coming soon after the prosperous Coolidge era, the Depression affected a nation of people who had based their self esteem around their ability to work and provide well for their families (Clements, page 67 - 69). Individuals and families had to contend not only with an existence that pushed people close to suicide and starvation, but a total loss of self worth and the haunting memories of the cars, radios and relatively luxurious lives they would have led five years previously.
1.The great depression was a time between late 1929 to 1939 and was completely ended during World War Two. It started with a series of events, most famously the Wall Street stock market crash, that induce poverty on the American citizens. It caused the downfall of the US economy.
The Great Depression was a period in United States history when business was poor and many people were out of work. The beginning of the Great Depression in the United States was associated with the stock market crash on October 29, 1929, known as Black Tuesday. Thousands of investors lost large amounts of money and many were wiped out, lost everything. Banks, stores, and factories were closed and left millions of Americans jobless and homeless (Baughman 82).
The Great Depression was a period, which seemed to go out of control. The crashing of the stock markets left most Canadians unemployed and in debt, prairie farmers suffered immensely with the inability to produce valuable crops, and the Canadian Government and World War II became influential factors in the ending of the Great Depression.
The symptoms of the Great Depression began since the World War I and the economic boom of the 1920s, which was built on a shaky foundation. As a result, the Great Depression remained inevitable due to poor economic diversification, uneven distribution of wealth and poor international debt structure. However, although the Depression shook much of American society and culture, the capitalist system survived, the American people remained receptive and the belief in the "American way of life" didn't falter throughout the long years of economic
The Great Depression can be a tough subject for most people, but still inspiring to others. The Great Depression was a very difficult time for America as well as women. The women of the Great Depression struggled through many trials, as did many others in the United States, but they were able to get through it all. The women of the Great Depression worked their hardest to stay true to themselves, and their family, as well as, to keep a job, a stable household, and for some, a strong marriage.
The Great Depression was in no way the only depression the country has ever seen, but it was one of the worst economic downfalls in the United States. As for North America and the United States, the Great Depression was the worst it had ever seen. In addition to North America, the Depression greatly affected Europe and other various countries throughout the world significantly during the 1920’s and 1930’s. The Great Depression was caused by the collapse of the Stock Market, which happened in October of 1929. The crash exhausted about forty percent of the paper values of common stocks. It was the worst depression due to the fact that at the time of the Great Depression the government involvement in the economy was higher than it had ever been. A unique government agency had been set up exclusively to prevent depressions and their related troubles for instance bank panics. All of ...
Great Depression was one of the most severe economic situation the world had ever seen. It all started during late 1929 and lasted till 1939. Although, the origin of depression was United Sattes but with US Economy being highly correlated with global economy, the ill efffects were seen in the whole world with high unemployment, low production and deflation. Overall it was the most severe depression ever faced by western industrialized world. Stock Market Crashes, Bank Failures and a lot more, left the governments ineffective and this lead the global economy to what we call today- ‘’Great Depression’’.(Rockoff). As for the cause and what lead to Great Depression, the issue is still in debate among eminent economists, but the crux provides evidence that the worst ever depression ever expereinced by Global Economy stemed from multiple causes which are as follows:
America has been through a lot of tough spots but we are still a strong nation. We had been through so many events like the Revolutionary War, World War II, the Vietnam War, and the Cold War. But there is this one event that hit our country the most and it’s called “The Great Depression”. There are many things that caused the Great Depression. However, there are three main things that caused the Great Depression, as in. the Stock Market Failure, Bank Failure, and Poverty.
After many years of hardships and recovery, our world is standing tall. The Depression was definitely a gruesome and difficult time for many, but we were able to say we overcame a strategically long American phenomenon.
When the stock market started failing, many factories closed production of all types of goods. Businesses and banks started closing down and farmers fell into bankruptcy. Many people lose everything, their jobs, their savings, and their homes. More than thirteen million people are unemployed. The Great Depression caused major political changes.
The Great Depression was the deepest and longest-lasting economic downfall in the history of the United States. No event has yet to rival The Great Depression to the present day, although we have had recessions in the past, and some economic panics, fears. Thankfully, the United States of America has had its share of experiences from the foundation of this country and throughout its growth, many economic crises have occurred. In the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors ("The Great Depression."). In turn, from this single tragic event, numerous amounts of chain reactions occurred.