How Great Depression Affected America
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