How Did The Great Depression Affect America

The Great Depression is not so great The Great Depression had a huge impact to many people in many different ways during the 1920s. Farmers were majorly impacted and it took a toll on the agricultural industry. It all started on October 28, 1929 due to the Stock Market Crash. It lasted 10 long years and greatly impacted our country. Farmers were the first to be impacted which then affected businesses and the wealthy. People lost of money and struggling to survive. Many Americans were affected socially, economically, and politically by the Great Depression. Due to the lack of money during the Great Depression, the social effects became very difficult for many Americans. The Great Depression changed the way people lived, how people reacted to one another, and how people met their basic needs. The Stock Market Crash is what started the Great Depression, which led everyone to become bankrupt. People would borrow belongings with savings for stock market spots. There were lower taxes for poor and higher taxes for the rich which caused the millionaires to get wiped out. During 1923 to 1929, shares rose by 400% and people started selling their shares. People could not provide for their families and were living in cars. They no longer had money to buy anything so …show more content…
It all started in 1929 with the Stock Market Crash. It lasted ten years, and during that time Hoover took office. The depression worsened due to the increase in federal spending, which was cut to keep the budget balanced. The Monetary Policy was put in place to prevent the Depression from happening but, it ended up failing. A central bank and currency board are all under a process of monetary authority. Monetary conditions were very tight and are thought to have been the reason for the fall in prices and supply of money. President Herbert Hoover tried very hard to use volunteering to raise money as well as control businesses and