Great Depression Causes

The Great Depression remains to be the worst economic slump ever in American history and one which spread practically all over the industrialized world. The Depression bombarded in late 1929 and lasted nearly a decade. Many factors elemented the depth of the widespread prosperity. However, combined, the greatly unequal distribution of wealth throughout the 1920's and the extensive stock market speculation that took place during the latter part that same decade remain the key of all elements.

Herbert Hoover was elected as president in 1929, but before that he was much more. Hoover was born a Quaker in Iowa, which makes him the only Iowan president. He had a hard childhood due to both of his parents passing away and leaving he and his two siblings orphans at the age of 9. He then moved in with his uncle in Oregon until he attended college at Stanford, making him one of the first people to go there. He graduated with a degree in geology and became an engineer. After awhile Hoover got deeply involved with humanitarian work and was then appointed by president Woodrow Wilson in 1917,when the US entered WW1, as head of Food Administration. His success in that position allowed him to

The Great Depression is one of the most misunderstood events in not only American history but also Great Britain, France, Germany, and many other industrialized nations. It also has had important consequences and was an extremely devastating event in America. It was the longest and most severe depression ever experienced by the industrialized Western world. When the New York Stock Exchange crashed in October 1929, the United States dropped sharply into a major depression. The world was in wide demand for agricultural goods during World War I, but they had rapidly decreased after the war and rural America experienced a severe depression throughout most of the 1920's and even on into the 1930's.

On the 29th of October the stock market crashed which became to be known as ‘Black Tuesday’. On this day 16 million shares were traded after a wave of panic swept Wall Street. All of the investors that had bought stocks with borrowed money were wiped out completely. After this catastrophic day there was a massive downturn in factories and business. Many employers started firing off their employees, those that were lucky enough to stick with their jobs were getting really low wages. Many americans started buying stuff on credit, they later fell into debt. This Depression caused unemployment to rise to 25% by 1933. The Great Depression was not the only thing

He believed that the country would just recover on its own without any government assistance. Hoover believed that it was the individual responsibility of Americans to pull themselves and the country out of debt. He cut federal taxes to improve private investments and encouraged volunteerism. When that didn’t work, he created the Reconstruction Finance Corporation. The RCF provided federal loans to businesses and it was somewhat successful, but failed because it loaned too cautiously. Hoover’s approach towards repairing the US economy was not aggressive enough to fix the

The Great Depression was a time when severe economic despondency, hopelessness, unemployment, and gloom lingered in the U.S. like a dense fog. It has been difficult for subsequent generations to imagine how deep, and long and horrible this time actually was.

The Great Depression was a period in not only American history but other countries, faced the longest economic downturn due to the stock market crash of 1929. It was called the Great Depression because everyone was literally depressed. Poverty rates were at an all time high due to fathers and mothers losing their jobs and businesses which meant bills couldn't be paid and means couldnt be met. With millions of Americans frustrated and left clueless of where their money went they wanted to know what caused it all.

This contributed to the Great Depression because the majority of people were not wealthy. So when the market high, everyone pulls out to make money and pay off loans, it sends the market down.” Since there was no longer any money to loan people were no longer able to seek credit and things were becoming worst by the minute. People began to ration things and stopped spending any of their money and unemployment rose to very high levels. “A drought that lasted from 1930 to 1936, known as the Dust Bowl, aggravated the problems of the Great Depression. More than a million acres of farmland were rendered useless because of severe drought and years of over farming, and hundreds of thousands of farmers joined the ranks of the unemployed.” Since there was not any income available it causes many families to become homeless and people were seeking charities. Researchers have said that, “Pro-labor policies pushed by President Herbert Hoover after the stock market crash of 1929 accounted for close to two-thirds of the drop in the nation 's gross domestic product over the two years that followed, causing what might otherwise have been a bad recession to slip into the Great Depression, a UCLA economist concludes in a new study.” http://newsroom.ucla.edu/releases/pandering-to-labor-caused-great-91447. Because people were so desperate to feed their families, crime increased. They committed small crimes for the sake of putting some food on the table. Some committed

The great depression was a horrible time for americans it was one of the most difficult times in the united states.One of the causes that started the great depression was the stock market crash of 1929 it was a major cause because two months after the original crash stockholders had lost more than 40 billion dollars.Even though the stock market begin to gain some of these losses back by the end of 1930 it was not enough and america truly entered the great depression.Another event that caused the great depression was bank failures.In the 1930s over 9,000 banks failed. Bank deposits were uninsured and banks failed people by losing their savings.Banks that survived were unsure of their economical situation and concerned for their survival.

The Great Depression was a time in American history that not only affected the United States deeply, but also the rest of the world (Irwin). Jobs were tough to come by, the stock market was poor, and the American people lacked strong government leadership for a time. In Europe, countries recovering from the great losses of World War I were buried once again in debt and turmoil. The Great Depression was a consequence of many actions of greedy men in a consumer driven economy. In order to understand the Great Depression, one must look at the prosperity beforehand. The Great Depression was caused by the lack of responsibility amongst consumers and businessmen, poor banking practices, and the absence of government leadership and regulation in industry.

The Great Depression started within the year of 1929 and had finally ended in 1939. This was caused by the stock market crash in October, by this, causing the Wall Street into a panic and cleared millions of investors. As years are passing by, consumers are dropping their investment and thus causing companies to let go of their people. By 1933 about 13-15 million Americans were unemployed and nearly half of the banks had failed due to people wanting to withdrawal their money. In the 1930s, President FDR came into the picture and he had helped the ease of the Great Depression, although it wasn’t enough; however, in 1939 after the Pearl Harbor Attack, it was finally getting back into gear with American industry and the Great Depression had ended.

When the stock market crashed, it caused “The Great Depression.” The “Jazz Age” was a booming time for American lifestyles. At the time, many citizens had a mentality of living in the “now.” They often felt the need to spend all the money that they were earning. Parties with jazz music were big and everybody went to them. The economic growth and prosperity of the 1920s is what caused the struggles during the great depression.

The Great Depression had a large impact on people’s living conditions. After awhile, people were becoming homeless and living off the streets. Their income dropped because the companies they worked for had no money. Most people couldn’t afford to live in their own house so therefore, they became homeless. People borrowed money to invest in the stock market, then in October 1929, the stock market crashed. This caused an economic bust.

In 1929 the stock market crashed, which caused major inflation all around the country. This was caused accordingly to the stock market was predicted to do well and continue to rize. People then bought investments in the stock off of loans and credits (American-Historia). When the crash occurred, ordinarialy people could not pay and they went into severe debt. Banks tried, but continued to fail to meet the demands of the people. This caused them to shut down. The amount of employment jobs went up due to the New Deal. It went up 10.8%, then 8.9%, 12.9%, and 5.1% (The Balance). Then the government shut down the New Deal and the depression returned.

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.