How Did The Great Depression Affect America

The Great Depression, which lasted from 1929 to 1939, was the worst economic depression in the history of the United States. The stock market crash of 1929 signaled the start of the downturn and the coming of the Great Depression. This speculation and stock market crash acted as a trigger point for the already unstable U.S. economy. Thousands of people went bankrupt because they had lost their working capital in the stock market crash. Thus, the rich stopped spending on luxury items; the middle class stopped buying things on credit.

• The United States Senate refused to ratify the Treaty of Versailles, making it impossible for the United States to join the League of Nations.

The stock market crash, called Black Tuesday. Unequal distribution of wealth was a key factor during the time period as well. The day know as “Black Tuesday” was the day the stock market crashed. This led to the fall of stock prices, in fear, people sold their stocks and gathered the money they could. The people who didn’t, lost all of their stocks. Those who bought them on credit, they were now in debt. Investors lost a collective amount equal to the amount spent in WWI, that’s billions of dollars gone, approximately thirty-two billion dollars (32,000,000,000). As bad as the crash was, unequal distribution of wealth did not help. The rich saw an income increase of 70%, and the poor saw an increase of 9%. More than 70% of families earned less than $2500/year. Many of these families couldn't afford household products, such as the flood of overproduced goods. Only one out of ten families owned an electric refrigerator. One thing many people overlook when on the subject of the Great Depression is the president's influence on the situation. The two presidents during this time were Herbet Hoover and Franklin D. Roosevelt. Hoover was in office during the collapse of the economy, he didn’t believe in national relief, he believed in self-prevalence and self-help. His beliefs didn’t get the confidence of the people, in 1933, a fourth of working American’s were out of a job, that’s more than fifteen million people unemployed. Many people disliked Hoover, so when they needed to make a home out of paper, glass, tin, or whatever they could find, they named the towns constructed from these items “Hoovervilles”. They were found mostly on the outside of cities. Hoover's idea of self-reliance didn’t get him reelected, he lost to Franklin D. Roosevelt in 1933. Roosevelt brought forward a new strategy to take on the economic problems, it was called the New Deal. The New Deal was a series of actions him and his

The Great Depression was a devastating time for many Americans. From 1929 to 1932, the US experienced an economic downturn that was calamitous to the lives of many people. Millions upon millions of Americans lost everything when the stock market crashed on October 29, 1929. After exiting an era that left people living a life of luxury, the stock market crash came as a surprise. As a result of the stock market crash, many became unemployed and many families were being forced to close their businesses. Although there were many factors that contributed to the cause of the Great Depression, the three main causes were The Stock Market Crash of 1929, high unemployment, a decrease in consumer purchases due to being “stuffed with stuff” during the roaring twenties.

At the peak of the Great Depression in 1932 over 12,060,000 citizens were unemployed and the rate of deflation exceeded 10% (John C. Williams1). Millions of individuals were starving on the streets and billions were lost on the stock market (History.com2). When Franklin Roosevelt released the New Deal in 1933, a plan to provide relief, reform, and recovery to the distressed country, Americans were in dire need of relief. President FDR acted quickly and implemented a series of programs aimed towards providing an immediate stop to the economic free fall and providing relief to his people (DPLA3). In his effort to reduce the severity of poverty and unemployment, FDR released programs to aid business and labor, farmers, housing and homeowners,

The great Depression was a major crash in the history of the United States. The crash of the stock market in October 1929 was the significant cause of the great depression. People began to panic and big businesses were not able to handle the outcome. As a result, many companies dismissed workers, which left the workers with no money. People halted to purchase goods and businesses were running in loss. Furthermore, after the world war one, many European nations owed huge amount of money to the United States. The economy of these nations was shattered and had no way of paying back the

The Great Depression was a terrible event for the U.S. This is because of how during this time farmers were hit with a drought, stock markets collapsed, and millions of Americans were unemployed. The great depression affected Americans greatly because of how it destroyed their economy. To begin with, the stock markets crashed and many banks closed. The author states in "The Stock Market Crash", "Since many banks had also invested large portions of their clients' savings in the stock market, these banks were forced to close when the stock markets crashed.

In October 27, 1929, the United States stock market crashed and created a ripple effect of unfortunate events. This economic downfall that the U.S. economy faced was one never experienced by American citizens. The crash immediately stunned Wall Street and wiped out millions of investors. As the years passed the Great Depression only worsened. No one knew how to react to this situation and fear began to over run the country.

A disaster that occurred in the economy was known as the Great Depression which affected people socially, economically, and politically. In 1928 President Herbert Hoover gets elected president of the United States. It was not easy for people at this time. They learn many things like once the banks recover they do not trust them anymore. The Great Depression lasted 10 years.

The Great Depression was one of the biggest events in the 1920s since it had huge effects both socially and economically. Starting with the stock market crash, millions of investors were bankrupted and thousands of workers were unemployed. Over the next several years, not only did the consumer spending drop, the number of investment lowered as well. Until 1939, when the President Franklin D. Roosevelt established the "Relief and reform measures" which finally help the economy to restart. Through two different disciplines, two different authors analyze how the Great Depression affect the Americans both economically and anthropologically. Christina D. Romer and Glen H. Elder, Jr, the two authors of two separate articles analyzes the

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.

Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and rising levels of unemployment as failing companies lay off workers. 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(Social Security Act."2015).

Americans faced many problems during the Great Depression. The Stock Market crash in 1929 caused

The deepest and longest lasting economic downturn was the Great Depression. It started after the stock market crash of October 1929. Almost half of the country's banks had failed. Foreign trade had collapsed. Most African-American women worked as an agricultural laborer. Street Vendors tried to sell apples to get money. The stock market crash wiped out millions of investors. The average income of an american family dropped by 40% from 1929 to 1932. The income fell from $2300 to $1500 per year. The Great Depression in the united states began on October 29, 1929. It was the day known as Black Tuesday. Many people suffered the Great Depression and many people had major effects.

The Great Depression had many causes that required the United States to find solutions and fix the problems in businesses, schooling, and worker’s rights. During the 1920s the economy was solid and the stock market was very good. The United States had become a consumer economy due to higher wages, advertisement, new products, lower prices, and credit. The government had no control on businesses and no regulations. Calvin Coolidge believed in “Laissez faire” which is a hands off government policy. On October 29th, 1929, the stock market crashed and people lost all of their money. This day will forever go down in history as Black Tuesday. The economic problem of the Depression caused by Black Tuesday, loans, and debt was fixed by the United States government who created solutions like Franklin D. Roosevelt’s New Deal Program. The New Deal was successful with getting the US out of the Depression so the government is now more involved in business and its effects are still around today.