Great Depression

The store market crash of 1929 had devastating effects on the economy, politics and the society itself. Though it was not the main hasten for the Depression, it was certainly a factor. The Depression left many lot homeless and jobless and without hope. On Tuesday October 29, 1929 the industrial index dropped 43 points and 16 million shares were sold take away. This was called Black Tuesday and remains oneness of the worst days in US history to this day. there were a few signs that something was wrong, but these were not the only puzzle of the depression; only a few markets holding up the economy was a result of lack of diversification. The rich shoot for richer and the middleman does not mean that there was a misdistribution of bargain foring power. Banks were troubled by many farmers borrowing money to prosper for WWI. Our position in international trade, Europe was in debt and couldnt buy any American goods. And we were lending Germany money to pay off Great Britain. The economy was in shambles, unemployment shot through the detonating device populate were getting laid off left and right, 9,000 swans unopen their doors, depositors lost 2.5 million dollars, business and farmers could not get loans and output signal went way down.

By 1933 25% of Americans were jobless and plurality believed that it was a personal failure to be in poverty. Up to 40% of the available money supply normally used for purchases and bank payments was destroyed by all these bank failures. The debt became heavier, because prices and incomes fell 20?50%, but the debts remained at the same dollar amount. thither had been an enormous amount of stock purchasing during the 1920s. Newspapers and magazines were filled with stories of people becoming rich overnight by going into the stock market, and thousands of Americans rushed to buy stocks, even if they had to borrow money to get in the buy them. Instead of looking for danger signs, most people assumed that prices would just keep on rising. The market unwell on Sept.... If you want to get a full essay, vow it on our website: Orderessay

If you want to get a full essay, wisit our page: write my essay .