In this essay, I will explain why the stock market crash of 1929 occurred and how it turned into a major depression, describe the major ways Depression affected Americans, and what did President Hoover and President Franklin D. Roosevelt do during this catastrophe period. During late 1929, Great Depression negatively impact the whole world economy. It was one of the most oppressive economic situations ever happened in America’s history. Weaknesses in the US Economy (farmers were struggling with their debts, declined in international trade and consuming goods/automobiles/powers), bank failures, and lack of sources of foreign exchanged left America horrifyingly depressed. Great Depression terrifyingly affected Americans in many ways, such as
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As a result of the decline in consumer and spending, the output in the United States fell dramatically. This downturn in the economy also impacting the rest of the world, especially in Europe, the unemployment rates were increasing, many farmers struggled in finding jobs, educated American experienced a lot of hardship of getting into their profession, all due to a monumental decline in aggregate demand.
Great Depression negatively affected American’s lives and culture. The unemployment rates were rising dramatically, businesses failed, and stocks (especially who purchased margin stocks) were completely wiped out. Many banks were forced to close down, or to prevent bankruptcy, leaving many American lives in poverty and struggling with their destitution. Since their savings had gone, and low employment demands, result in many Americans lost their homes across the nation. Especially Americans in the South, where most of their incomes were depending on crops. Farmers were hardly making money due to many factors, such as loans that their own from their previous crops, pile of unsellable crops in their inventory, and Europeans demand for American crops/goods declined. Although America was one of the country
As a result of the decline in consumer and spending, the output in the United States fell dramatically. This downturn in the economy also impacting the rest of the world, especially in Europe, the unemployment rates were increasing, many farmers struggled in finding jobs, educated American experienced a lot of hardship of getting into their profession, all due to a monumental decline in aggregate demand.
Great Depression negatively affected American’s lives and culture. The unemployment rates were rising dramatically, businesses failed, and stocks (especially who purchased margin stocks) were completely wiped out. Many banks were forced to close down, or to prevent bankruptcy, leaving many American lives in poverty and struggling with their destitution. Since their savings had gone, and low employment demands, result in many Americans lost their homes across the nation. Especially Americans in the South, where most of their incomes were depending on crops. Farmers were hardly making money due to many factors, such as loans that their own from their previous crops, pile of unsellable crops in their inventory, and Europeans demand for American crops/goods declined. Although America was one of the country