What Are The Effects Of The Great Depression Essay

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The 1920’s. Now this was a time a expressing yourself, breaking out of that cracked shell, singing, dancing, doing whatever you want. A time where women started to become more independent instead of depending on a man to take care of the bills and where they got to enjoy themselves because they were not stuck at the house all day. There were flappers and dont forget the many authors, musicians, booming cities and of course the Harlem renaissance. The “Roaring Twenties”. Life was good until 1929 when the United states hit the Great depression in 1929. During 1929- the late 1930;s, the unemployment rate dropped by 13 million Americans losing jobs. You also have poverty, homeless families, and no money. That means that supply demand dropped …show more content…
The key items that caused the Great depression were the stock market crash, bank failures, reduction in purchasing across the board, the American Economic policy with Europe, and the drought conditions. On October 29, 1929, Dark (Black) Tuesday hit Wall Street as speculators exchanged practically 16 million shares on the New York Stock Trade in a solitary day. Billions of dollars were lost, wiping out a large number of financial specialists. In the consequence of Black Tuesday, America and whatever remains of the industrialized world spiraled descending into the Great Depression. During this time production was decreasing and the unemployment rate was increasing rapidly. This was the number one factor of the Great depression. When the stock market crashed many people ran to the banks and emptied out their bank accounts because they were afraid of what was going to happen with their money. Many of the banks could not cover their customers taking out their money because that had put too much money into the stock market and lost it all. About 659 banks shut their doors as a result; therefore; the bank failures wiped out about 9 million individual saving

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