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Cause and effects of great depression
Introduction to the 1929 Wall Street Stock Crash of the U.S
Introduction about the great depression
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The Great Depression was the worst economic depression that we had ever had that took place during the time frame of 1929 and ended in 1939. Although the depression was a global economy the effects of the depression were seen everywhere there was high unemployment,stock market crash,bank failures also poverty,homeless people The great depression affected almost everyone from rich to poor.
The people that got affected by the Great Depression and had no home they were considered homeless people. But most homeless were building their tents in shantytowns which were a lot of small tents where they were usually built on an empty land.A Lot of homeless people clustered the shantytown most of them wanted to be close to the kitchen where they
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.
In the 1929, The Great Depression was a worldwide depression that lasted for 10 years. The stock market crash of the 1929 causes the Depression, when loans were given out and people couldn’t repay the loan. It affect many American lives, the unemployment had skyrocketed from 3% to 25%. Work wages fell 42% for those who still had a job. The Great Depression lasted so long was because it affect a nationwide and people didn’t have money to spend to recover the economy
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, 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.
In 1929 the Great Depression occurred that sent a panic through the country and a sharp decline in the United States economy. This decline accompanied an increase in homeless people. Although the United States had seen its’ share of homeless, the 1930s-1940s marked the peak. Many people believed the government would provide assistance but were let down. These homeless created Shantytowns to live in and called them Hoovervilles. These Hoovervilles contained awful hygienic conditions that would put many people at risk. The Great Depression brought along hundreds and thousands of homeless people and shantytowns, which was blamed on the government but has shaped
According to Streetwise of Street News Services (2010), the first reported instances of homelessness dates as far back as 1640, in some of the larger cities in the original 13 colonies. At this time, there were wars being fought between settlers and Native Americans, and people were left with no shelter in both sides (Street News Service, 2010). Later, the industrial revolution caused more homelessness, industrial accidents left many former hard-working families with a dead provider, or with severe disabilities, and then the economy entered a recession in the same time period (Street News Service, 2010). Wars always left a large number of veterans homeless. Later, in 1927, there was an astronomical flood along the Mississippi River, across multiple state, leaving about 1.3 million people without a home (Street News Service, 2010). Natural disasters such as Hurricane Katrina, the 1906 earthquake in San Francisco, the Asian tsunami in 2004, and the earthquake early this year in Japan are still a major cause of homelessness.
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 ...
Throughout history there has always been a lower class society and some even lower than that which are known as the homeless. The homeless are people who don’t own homes or don’t live in their own home so they have to live in public places like shelters or even on the street. Homeless like to come out from the shadows and target the weak like a father with his daughter. They target specific groups so they know they can get money out of them easily instead of having to work for it. Homeless people are lazy to get jobs unless they are handed it so they would just sit down on their butts and do nothing until an opportunity comes to them. Homeless people are lazy and don’t want to work for themselves and have to get others to do their work for them because we think they are useless and therefore won’t do anything.
In the word homeless there are two root words, home and less. Home is what most people would define as the place where they live, or grew up. Less, simply means not as much as. When you combine the two together homeless equals someone who grew up in a home that was held to less standards than what they would normally be held up to. For example, someone who is homeless could live in a box, it sounds terrible but unfortunately it is a part of our reality. Not everyone can afford to live in a house, pay mortgage, and all the other expenses that come with the responsibility of owning a house, or home. Today homelessness still has an affect on many people.
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:
Many of the homeless are women that have become divorced or have left home because of physical abuse. These women have no education because they have not been given the chance to go and get the education that it takes nowadays to get the job, so they are forced to live on the streets. They have no family to help them, and they are left with no other choice. People with mental illnesses also become homeless quite often. These people are incapable of handling the stress of living on their own.
October 29th, 1929 marked the beginning of the Great Depression, a depression that forever changed the United States of America. The Stock Market collapse was unavoidable considering the lavish life style of the 1920’s. Some of the ominous signs leading up to the crash was that there was a high unemployment rate, automobile sales were down, and many farms were failing. Consumerism played a key role in the Stock Market Crash of 1929 because Americans speculated on the stocks hoping they would grow in their favor. They would invest in these stocks at a low rate which gave them a false sense of wealth causing them to invest in even more stocks at the same low rate. When they purchased these stocks at this low rate they never made enough money to pay it all back, therefore contributing to the crash of 1929. Also contributing to the crash was the over production of consumer goods. When companies began to mass produce goods they did not not need as many workers so they fired them. Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst.
The Great Depression occurred from 1929 and lasted to the early 1940’s. It was a deep and tragic period of time where everyone was affected in some capacity. This period marks the longest most widespread depression in American History. It has devastating effects to both the rich and poor. Cities all around the world were hit hard by this crisis.
The Great Depression was a period of first-time decline in economic movement. It occurred between the years 1929 and 1939. It was the worst and longest economic breakdown in history. The Wall Street stock market crash started the Great Depression; it had terrible effects on the country (United States of America). When the stock market started failing many factories closed production of all types of good. Businesses and banks started closing down and farmers fell into bankruptcy. Many people lost everything, their jobs, their savings, and homes. More than thirteen million people were unemployed.
The Great Depression was the deepest and longest-lasting economic downfall in the history of the United Sates. No event has yet to rival The Great Depression to the present day today although we have had recessions in the past, and some economic panics, fears. Thankfully the United States of America has had its shares 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.