Effects Of The Great Depression - 1329 Words

Del pozo 1 Zackery Del Pozo Mrs.Kent English 8 3/12/2015 The Effects of the Great Depression The Great Depression, the worst economic recession in US history. In October 1929 the U.S. stock market crashed. This event is commonly referred to as the beginning of the Depression. The stock market crashed in New York causing the rest of America to fall. It was not just one factor, but a combination of domestic and worldwide conditions that led to the Great Depression. There are many theories of what caused the Great Depression, however, they are not all agreed upon. This paper is about how the Great Depression occurred, what the Great Depression is, how it affected people, jobs, businesses, the President during the Great Depression, World War II, and how the Great Depression ended on October 18th the stock market began to crash. Panic started to set in as bankers attempted to stabilize the market. However the market went into freefall and on October 29th stock prices collapsed completely. The consumer spending dropped and stores began to pile up on excess goods, which slowed production. Billions of dollars were lost, wiping out thousands of investors, and stock tinkers ran hours behind because the machinery could not handle the volume of trading. After October 29th stock prices continued to drop as the United States collapsed into the Great Depression. Not only the stock market had been affected. Nearly seven hundred banks Del pozo 2 failed in 1929 and about 2,300 failed over theShow MoreRelatedThe Great Depression And Its Effects1166 Words   |  5 Pages The Great Depression The Great Depression is one of the single most important events in the financial history of the United States and the world; the effects of and leading to the Great Depression lasted for several years (Shindo). The great depression was a very difficult time in the time that it occurred. It hit people hard and left an everlasting memory (Shindo.) It would lead to a lot of devastating events better all over would feel the affect of this crisis. It was a very unexpected and suddenRead MoreThe Great Depression And Its Effects1011 Words   |  5 Pages The Great Depression was a ten year, economic downward spiral in the U.S that spanned from 1929- 1939. The cause of the Great Depression was the fault of several contributing factors. First was the stock market crash that occurred on black Tuesday of October 1929. This was the major cause because stock holders lost more than 40 billion dollars, and although it regained some of its losses, by end of 1930 truly entered the Great depression. Stock prices reached a permanent plateau. 2 out of everyRead MoreThe Effect Of The Great Depression Essay1500 Words   |  6 PagesThere is much debate as to what caused the Great Depression. There was certainly the short-term trigger of the Stock Market Crash of 1929, but there are also long-term causes that manifested itself during the 1920’s. 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