How Did The Great Depression Affect The Common Person
About 88 years ago, the United States of America began one of the greatest economic losses it has ever seen. On October 29,1929, or “Black Tuesday”, marked the start of the decade long depression. There are clear reasons why the event occurred, how it ended, and how it affected the common person. On October 29, 1929 the worst stock market crash the United States had ever seen began. The crash happened because there was a rapid growth in bank credit and loans in the United States (About the Great Depression). About one month earlier, several mini crashes occurred which scared investors into selling stocks at a rapid pace, exposing the markets shaky foundation (Amadeo). Money was the main and only focus in the stock market, and once people began to think they would no longer be able to make money, they sold all of their
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The Great Depression began with the stock market crashing and rapidly increasing panic, the USA started its ten-year journey through the darkest of times. After 1929, the effects of the depression were showing, especially on the unemployment charts, reaching 11 million unemployed. Starvation was also a painful and common effect and unfortunately killed about seven million innocent people. Fortunately, after 10 long years, the depression ended. Oddly enough, WWII was a saving grace during the Great Depression. The war sent young men to battle and sent women to the factories and provided many jobs. The U.S. also reduced the amount of international spending and instead spent more money in the United States, which in turn slowly increased the national GDP. The Great Depression was a dark and grim time. America and its people were deeply injured financially. The brave men, women, and children who endured these dark times showed tremendous resourcefulness and bravery. The Great Depression was a test, which proved the integrity and determination of the American
The Great Depression began with the stock market crashing and rapidly increasing panic, the USA started its ten-year journey through the darkest of times. After 1929, the effects of the depression were showing, especially on the unemployment charts, reaching 11 million unemployed. Starvation was also a painful and common effect and unfortunately killed about seven million innocent people. Fortunately, after 10 long years, the depression ended. Oddly enough, WWII was a saving grace during the Great Depression. The war sent young men to battle and sent women to the factories and provided many jobs. The U.S. also reduced the amount of international spending and instead spent more money in the United States, which in turn slowly increased the national GDP. The Great Depression was a dark and grim time. America and its people were deeply injured financially. The brave men, women, and children who endured these dark times showed tremendous resourcefulness and bravery. The Great Depression was a test, which proved the integrity and determination of the American