How Did The Great Depression Affect The Common Person
About 88 years ago, the United States of America began one of the greatest economic losses it has ever seen. On October 29,1929, or “Black Tuesday”, marked the start of the decade long depression. There are clear reasons why the event occurred, how it ended, and how it affected the common person. On October 29, 1929 the worst stock market crash the United States had ever seen began. The crash happened because there was a rapid growth in bank credit and loans in the United States (About the Great Depression). About one month earlier, several mini crashes occurred which scared investors into selling stocks at a rapid pace, exposing the markets shaky foundation (Amadeo). Money was the main and only focus in the stock market, and once people began to think they would no longer be able to make money, they sold all of their
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stocks before they lost money. Because of the panic and fear, the stock market turned into chaos. Investors had no idea what stocks were actually trading for at the moment. Because of this, billions of dollars were lost, wiping out thousands and thousands of investors (About the Great Depression). In the aftermath of Black Tuesday, America and the rest of the industrialized world began the spiral downward into the Great Depression (Pells). When a young and evolving country suddenly loses billions of dollars, lots of people will be affected. Unemployment was one of the largest effects of the Great Depression. Unemployment reached 25% by the peak of the depression (Pells). In 1935, over 11 million people were looking for work (Amadeo). Kids would often be found eating dirt or leaves off of trees to reduce the sharp pains of starvation because they had no money to buy actual food. Now that 11 million people are unemployed, affording food is getting increasingly difficult. Due to little to no money, famine killed over seven million people who could not afford to eat enough food to properly keep their bodies working (The Great Depression). Because of increasing prices, the average meal size decreased by 80% from 1929 to 1935 (Morain). On July 7, 1937, World War Two started. Because of this, many thought that the Great Depression would never be ended (Folsom). This deeply frightened millions of people. Many people thought that the United States would not be able to defend itself because of the severe drought of currency. Fortunately, the United States was able to defend itself. World War Two sent thousands and thousands of young men to battle and sent the women to factories to make supplies (Ferrara). The women and older men built lots of tanks and war supplies, which slowly but surely raised the national GDP. World War Two began in 1939, which was the end of the Great Depression. The Great Depression ended because the government had to budget for the war, which sparked a sharp reduction in spending (Folsom). The United States also began to decrease the amount of international spending and focused more on buying American made products rather than cheap Chinese products (Ferrara) As one knows, October 29, 1929 began the misery for the vast majority of the nation.
The Great Depression began with the stock market crashing and rapidly increasing panic, the USA started its ten-year journey through the darkest of times. After 1929, the effects of the depression were showing, especially on the unemployment charts, reaching 11 million unemployed. Starvation was also a painful and common effect and unfortunately killed about seven million innocent people. Fortunately, after 10 long years, the depression ended. Oddly enough, WWII was a saving grace during the Great Depression. The war sent young men to battle and sent women to the factories and provided many jobs. The U.S. also reduced the amount of international spending and instead spent more money in the United States, which in turn slowly increased the national GDP. The Great Depression was a dark and grim time. America and its people were deeply injured financially. The brave men, women, and children who endured these dark times showed tremendous resourcefulness and bravery. The Great Depression was a test, which proved the integrity and determination of the American
people.
stocks before they lost money. Because of the panic and fear, the stock market turned into chaos. Investors had no idea what stocks were actually trading for at the moment. Because of this, billions of dollars were lost, wiping out thousands and thousands of investors (About the Great Depression). In the aftermath of Black Tuesday, America and the rest of the industrialized world began the spiral downward into the Great Depression (Pells). When a young and evolving country suddenly loses billions of dollars, lots of people will be affected. Unemployment was one of the largest effects of the Great Depression. Unemployment reached 25% by the peak of the depression (Pells). In 1935, over 11 million people were looking for work (Amadeo). Kids would often be found eating dirt or leaves off of trees to reduce the sharp pains of starvation because they had no money to buy actual food. Now that 11 million people are unemployed, affording food is getting increasingly difficult. Due to little to no money, famine killed over seven million people who could not afford to eat enough food to properly keep their bodies working (The Great Depression). Because of increasing prices, the average meal size decreased by 80% from 1929 to 1935 (Morain). On July 7, 1937, World War Two started. Because of this, many thought that the Great Depression would never be ended (Folsom). This deeply frightened millions of people. Many people thought that the United States would not be able to defend itself because of the severe drought of currency. Fortunately, the United States was able to defend itself. World War Two sent thousands and thousands of young men to battle and sent the women to factories to make supplies (Ferrara). The women and older men built lots of tanks and war supplies, which slowly but surely raised the national GDP. World War Two began in 1939, which was the end of the Great Depression. The Great Depression ended because the government had to budget for the war, which sparked a sharp reduction in spending (Folsom). The United States also began to decrease the amount of international spending and focused more on buying American made products rather than cheap Chinese products (Ferrara) As one knows, October 29, 1929 began the misery for the vast majority of the nation.
The Great Depression began with the stock market crashing and rapidly increasing panic, the USA started its ten-year journey through the darkest of times. After 1929, the effects of the depression were showing, especially on the unemployment charts, reaching 11 million unemployed. Starvation was also a painful and common effect and unfortunately killed about seven million innocent people. Fortunately, after 10 long years, the depression ended. Oddly enough, WWII was a saving grace during the Great Depression. The war sent young men to battle and sent women to the factories and provided many jobs. The U.S. also reduced the amount of international spending and instead spent more money in the United States, which in turn slowly increased the national GDP. The Great Depression was a dark and grim time. America and its people were deeply injured financially. The brave men, women, and children who endured these dark times showed tremendous resourcefulness and bravery. The Great Depression was a test, which proved the integrity and determination of the American
people.