Crashing Immigration
A young man is living in a dangerous place filled with poverty, oppression, and segregation. After many years he is told that there is a way to get out. He is now forced to make a difficult decision. He must choose whether to stay in this unsafe community, or to leave his family behind and head to a place known as the land of opportunity and freedom. After long consideration he decides that he must take this once in a lifetime opportunity and go to America. He was expecting greatness, as America was built off of the very foundation of Immigration, which helped the U.S emerge into one of the greatest and most powerful countries, yet he was shocked upon arrival when he was faced with discrimination and a weakened economy. …show more content…
Many investors and brokers began twisting with the rules and manipulating the customer in an attempt to control more money. Brokerages allowed customers to borrow money, and if the stock price fell, the broker would call a “margin call” on the investor, meaning the investor would have to pay more cash or sell their other securities (McCallum). Soon, more and more stocks began to fall, and more and more people were unable to pay, resulting in the stock market crash of 1929, which then marked the beginning of the Great Depression. The stock market left everyone in the ruins, without money, homes, or jobs: “More and more people fell into poverty and unemployment rates skyrocketed” (Rosales). Majority of the population lost their jobs and were left with nothing, the stock market crash became a day in which no one wished to remember. Historically the stock market crash of 1929 can be remembered aa single day where many were left broke and in debt: “Black Tuesday, October 29, 1929, devastated the U.S. economy and wiped out the fortunes and life savings of many investors. The event marked the end of the securities boom of the 1920s and the beginning of the Great Depression” (McCallum). The U.S economy was left devastated, the stock market crash marked the end of the strong and powerful decade known as the roaring twenties. The stock market crash left Americans angry …show more content…
The collapsed economy left hundreds of thousands U.S citizens homeless, impoverished and without jobs: “During the worst of the crisis, industrial cities like Detroit were plagued with 75% unemployment” (Rosales). Americans were left with nothing but unemployment and angry, confused on how their powerful government allowed this to happen. The country was left in a sad and angry place in response to the crash and collapsed economy, leading to massive amounts of unemployment, closures and bankruptcies. The stock market crash was definitely a main cause of the Great Depression, a period in time were about one-quarter of the workforce was unemployed. The stock market crash led to the closure of over 5,00 banks and 32,000 bankrupt businesses (McCallum). The stock market crash quickly led to depression all around America and soon throughout the globe. After 1929, America just kept getting worse and worse as more were falling into the hole of Great Depression. The Great Depression continued throughout the thirties, more and more people fell into poverty and unemployment rates skyrocketed (Rosales). The once powerful and wealthy America was now a giant homeless shelter, due to the manipulative investors leaving almost all of America unemployed. Unemployment became a major issue and many americans were left massive amounts of
A young man is living in a dangerous place filled with poverty, oppression, and segregation. After many years he is told that there is a way to get out. He is now forced to make a difficult decision. He must choose whether to stay in this unsafe community, or to leave his family behind and head to a place known as the land of opportunity and freedom. After long consideration he decides that he must take this once in a lifetime opportunity and go to America. He was expecting greatness, as America was built off of the very foundation of Immigration, which helped the U.S emerge into one of the greatest and most powerful countries, yet he was shocked upon arrival when he was faced with discrimination and a weakened economy. …show more content…
Many investors and brokers began twisting with the rules and manipulating the customer in an attempt to control more money. Brokerages allowed customers to borrow money, and if the stock price fell, the broker would call a “margin call” on the investor, meaning the investor would have to pay more cash or sell their other securities (McCallum). Soon, more and more stocks began to fall, and more and more people were unable to pay, resulting in the stock market crash of 1929, which then marked the beginning of the Great Depression. The stock market left everyone in the ruins, without money, homes, or jobs: “More and more people fell into poverty and unemployment rates skyrocketed” (Rosales). Majority of the population lost their jobs and were left with nothing, the stock market crash became a day in which no one wished to remember. Historically the stock market crash of 1929 can be remembered aa single day where many were left broke and in debt: “Black Tuesday, October 29, 1929, devastated the U.S. economy and wiped out the fortunes and life savings of many investors. The event marked the end of the securities boom of the 1920s and the beginning of the Great Depression” (McCallum). The U.S economy was left devastated, the stock market crash marked the end of the strong and powerful decade known as the roaring twenties. The stock market crash left Americans angry …show more content…
The collapsed economy left hundreds of thousands U.S citizens homeless, impoverished and without jobs: “During the worst of the crisis, industrial cities like Detroit were plagued with 75% unemployment” (Rosales). Americans were left with nothing but unemployment and angry, confused on how their powerful government allowed this to happen. The country was left in a sad and angry place in response to the crash and collapsed economy, leading to massive amounts of unemployment, closures and bankruptcies. The stock market crash was definitely a main cause of the Great Depression, a period in time were about one-quarter of the workforce was unemployed. The stock market crash led to the closure of over 5,00 banks and 32,000 bankrupt businesses (McCallum). The stock market crash quickly led to depression all around America and soon throughout the globe. After 1929, America just kept getting worse and worse as more were falling into the hole of Great Depression. The Great Depression continued throughout the thirties, more and more people fell into poverty and unemployment rates skyrocketed (Rosales). The once powerful and wealthy America was now a giant homeless shelter, due to the manipulative investors leaving almost all of America unemployed. Unemployment became a major issue and many americans were left massive amounts of