What Are The Causes Of The Great Depression

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The great depression was a big crash in the stock market. The great depression was from 1929-1939 it was was the biggest and longest economic downfall of all time. The great depression started right before a crash of in the stock market. Many people got laid off from jobs the banks started to go back rupt and from there it was just a domino effect peoples started losing their home because mortgage or rents wasn 't being paid and people were losing jobs and was hardly living. In fact 7 million people died of starvation that being said it shows what kind of life people lived. The world they lived in was a mess and it wasn 't because of them that these things happen it was because the government and other factors that dealt with our money was …show more content…
By 1933, nearly half of America 's banks had failed, and unemployment was approaching 15 million people or 30 percent of the workforce. (Friedman) many people were let down many people did have a lot many people were homeless and didn 't have a job due to many downfalls in the economy. By 1933, nearly half of America 's banks had failed, and unemployment was approaching 15 million people or 30 percent of the workforce. (Friedman). Lot of people in america was experiencing hardship a lot of them were left in the street. Because of this they blamed president hoover who was the president at the time the homeless people were called hoovervilles.The president was blamed for a lot of things he made a lot of bad decisions and he was partially the reason for its downfall. Americans know very little about social statistics, but I am not sure that it 's important that Americans know about social statistics. The people who are interpreting America to them, the people whom they count on for advice and for instruction ought to know a great deal about social statistics. (Friedman) This is also another reason why the great depression happen we never …show more content…
Can the same problem we faced years ago come back? Well we will never experience this again now that we have seen where we have messed up we will never go through it again. President Roosevelt came to office after president Hoover he made changes many changes he made affected the way the U.S. would protect the way banks functioned and the way they would not allow the Great Depression happen again."President Roosevelt shut down banks for 3 days in which it was called the bank holidays then banks were open with strict limits on withdrawals eventually, banks confidence returned to the system and banks were able to perform their economic functions again"(The First Measures). FDIC was created, the FDIC made it safer to put money in the banks and was more for the people so now people who deposit money at certain banks of the bank is running out of business and they take people 's money than now the government has to give people their money back and this is essential because this is one of the reasons why the Great Depression started people lose their money and couldn 't get it back and this is something we use today 2016. One out of each four people you know would lose the place they worked at. That shows unemployment rate would go up from its rate that is 5% to 25%. “More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 crash. President Hoover remains optimistic, however, stating that "all the

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