What Caused The Great Depression
The Great Depression was a time of worldwide economic disaster that began in 1929 and lasted until the 1930s. The depression begun with the crashing of the stock market. However, by 1932 the market was worth 20% of what they were before 1929, and in 1933 nearly half of the banks went bankrupt and failed. In 1935 farms had collapsed due to bankruptcy. However, the cause of the Great Depression was not due to the stock market crashing. The domestic consumption of new products were fueled by credit and installment buying. The Great Depression consisted of unemployment of Americans on a massive scale along with hardships (need for money and food). The cause of the Great Depression was due to the weak banking systems. Bankers had to rely on their