Collapse Of The Great Depression

The Great Depression was a time of great economic tragedy during the 1930’s. October 24, 1929 was the day of the stock market crash, causing economical shortage everywhere, even globally, and this scared everyone, including the rich. This day was/ is known as “Black Thursday”, where over 2.9 million shares were traded. On “Black Tuesday”, five days later, more than 16 million more shares were traded in another wave of panic. Many investors then lost confidence in their banks and demanded deposits in cash which forced the banks to liquidate loans in order to supplement their on hand cash reserves. By 1933, around 15 million Americans were unemployed and nearly half of the country’s banks had failed. This stopped Americans from purchasing which then led to less production of goods and decreased the amount of needed human labor. In the end, millions of shares ended up worthless, and those investors who had bought stocks with borrowed money were wiped out completely.

By the time the NYSE closed, a record of 16,410,030 shares had been traded in one day. The average prices of fifty leading stocks had dropped 40 points a share. This meant that an investor who had bought a stock for $100 a share could only get $60 a share for it. (Feinburg B. Black Tuesday) By 1933, when the Great Depression reached its nadir, some 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed. Though the relief and reform measures put into place by Roosevelt helped lessen the worst effects of the Great Depression in the 1930s, the economy would not fully turn around until after 1939, when World War II kicked American industry into high gear. The American economy entered an ordinary recession during the summer of 1929, as consumer spending dropped and unsold goods began to pile up, slowing production. At the same time, stock prices continued to rise, and by the fall of that year had reached levels that could not be justified by anticipated future earnings. As consumer confidence vanished in the wake of the stock market crash, the downturn in spending and investment led factories and other businesses to slow down production and construction and begin firing their workers. For those who were lucky enough to remain

The period of Great Depression 1929-1939 was very crucial, worst economic recession period in the history of industrialized world. October 24, 1929 was a day verifiably known as "Black Thursday", the United States securities exchange slammed because of financial specialists in the market beginning to "auction their offers, which brought about a decrease in stock costs” (Richard H. Pells, 2006; Christina D. Romer, 2008). This economic recession led to different consequences that caused lots of problems. Many banks failed, unemployment rose, world trade collapsed and there were many other problems that Americans were facing during this period. (History.com Staff, 2009)

In October 29, 1929, the fate of the United States and the rest of the world completely shifted as one of the biggest economic downfalls in American history. An unstable banking system led to many Americans attempting to retrieve their money from the Stock Market until the overload eventually crashed the economy Tuesday, October 24 1929. Due to the impact of World War I , the Stock Market’s Black Tuesday brought many Americans during the 1920’s, years of worldwide economic downfall, as well as strong backflash that eventually led to World War II.

The severe economic downfall during the period from 1929 to 1941 is known as The Great Depression. The stock market crashed and millions of people lost their jobs and ended up homeless. It was one of the most terrifying eras in the US’ history. Industry and agriculture were both major causes of the Depression. Many things were replaced due to the fact of development of the technology. For example, railroads lose to automobiles and coal loses to hydro elective , natural gas, and oil. Also, fewer houses are built because almost all of the industries were declining, so businesses also declined since there was no one to built houses. Furthermore, businesses who relied on or were related to those industries were also dragged down, such as wood companies, furniture factories, and real estates. This was the same for railroads and coal as well. Another significant cause was the decline of the agriculture. Farms over-produced during World War I in order to feed Europe, and corn and wheat tool out loans. Farms cut down trees to try to extend their land to produce more crops. However, since there were no more trees, the soil got loose and became easily picked up by the strong winds. This created huge dust storms, which also had nothing to stop it, and became known as The Dust Bowl. After the war, the crops declined 40% and the prices dropped as farms produced more. These unfortunate cycles lead to the depression. The president at the time was Herbert Clark Hoover, who was elected in

Another problem that occurred during the Great Depression was the Stock Market. Prior to the crash, many people invested their money into the stock market which seemed unerring for a long period. However, as more people invested in the stock market an upswing began. When the market crash billion was lost on a volume of more than a million shares on the New York Stock Exchange. In contrast, dozens of exchange operating other cities have a huge effect as well. “The Great Crash Shakes the Nation: Given the sprawl of the disaster, the optimism expressed Wall Street seemed delusional.” (Allen,3) In other words, the author think the crash was caused by Federal Reserve Monetary Policy. The crash of the stock market had an enormously effect on

The Great Depression was the longest and most widespread economic depression in world history. Some may argue that wars or the issue of slavery were worse, I disagree. While wars only affect groups of people or a few countries, and slavery mostly affected the black people and their supporters, the Depression affected everyone, no matter the race and spread worldwide. Human matters depend on differences and affect the lives of the people on the opposing sides. However, economic matters can control the lives of all. The economic slump that lasted 10 years shaped the nation and changed the lives of many forever. Many things happened that caused or were caused by the Great Depression, such as starvation, stock market crashes, and poverty.

I have been around touring multiple states throughout the country. During my visit I have met a number of people who are hardworking, persistent and willing to help out in whatever way they can. They are all worried though, ever since the great depression has started they have been struggling, not just one but all as a whole. Families are poor, starving, and homeless. Natural disasters like windstorms and floods are also making it impossible for all these people to get up on their feet. Theses are your people, they are the backbone of america, it is hard to see men women and children struggle to gain daily life needs when they should just be essentials. While walking down the streets of Illinois I encountered multiple kids running around

In 1929 the stock market crashes due to an unstable economy, over speculation and Government policies. Many people think that the stock crash was to blame for the Great Depression but that is not correct. Both the crash and depression were the result of problems with the economy that were still underneath society 's minds. The depression affected people in a series of ways: poverty is spreading causing farm distress, unemployment, health, family stresses and unfortunately, discrimination increases. America tended to blame Hoover for the depression and all the problems. When the 1932 election came people weren’t very fond of Hoover, but Roosevelt on the other hand introduced Happy Days and everyone loved that idea.

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On October 29 , 1929 marked one of the hardest times in history know as the Great Depression. It has also been known as the Black Tuesday. On this day the stock market crashed. On October 29,1929 people all over the country were panicking not knowing what to do . Their were many causes on what lead to the great depression. People tried selling their stocks that they had bought before the stock market crashed, but no one would purchase them since the stock market crashed stocks were worthless. The stock system was one of the ways they made a living and now the market was bankrupt , no money was coming in. Since the People were not getting money they couldn’t purchase anything which was bad for companies because they would

The Great Depression is one of the greatest economic crisis in the U.S. history. It is clear that any person, who lived at that time was deeply affected by it. The Depression began in 1929 and by 1933 the economy reached the lowest index of a 30% decrease in real GDP. Real disposable income per capita reduced by 40%. At the same time about 12 million people lost their jobs; the unemployment rate jeopardized from 3% in 1929 to the highest rate of 25% in 1933. Some specialists assume that 85,000 businesses failed. Great number of families were thrown out of their homes. At the historical peak of the Great Depression, the vast majority of all mortgages on owner-occupied houses were overdue (Wheelock D.C., 2008).

America’s economy was experiencing economic prosperity, growth, and success in the 1920s until October 1929—when reality struck Americans with a collapsing stock market. The confidence of Americans in an unfailing business system suddenly deteriorated and caused many to terminate involvement in any type of investment, business, or banking activity. This event and other factors contributed to the prevalence of the Great Depression. During this period of an economic recession, most Americans were affected by the drastic effects: life savings were lost, unemployment reached its highest of about 25 percent nationally and 80 percent in some industrial northern cities, and hunger, poverty, and homelessness escalated among countless families (Stewart 10). Many considered the Depression era to be one of the worst and longest economic decline in the history of America. Thus, the optimistic attitudes and positive results are frequently neglected. Although the Great Depression is widely known for its drastic, disastrous effects in the American history, it led to the growth, development, and progress in America by stimulating government reforms, encouraging creativity in entertainment, and instilling vital moral lessons in the people.

The October 1987 collapse in stock prices conjured visions of 1929 and the Great Depression. Focus on this period is natural because the 32 percent decline in stock values between the market closes of October 13 and 19, 1987, was of the magnitude of--indeed, it actually exceeded--the October 1929 debacle. Focus on this period is also appropriate because, despite all that has been learned since to help assure economic stability, we cannot be completely confident that history will not repeat itself. Consequently, this first section reviews events of the Depression era.

It is common knowledge that the 1930s was the time of the worst economic downturn the world has