What Caused The Great Depression
The great depression was an economic depression that went over several Nations. It was mostly during the 1930s. It was the longest wide spread depression of the 20th century. This was not just in the U.S. But it was where it originated. Today this can show people how the economy can go down.
It started in the united states when stock prices went down majorly. That happened seplember 1929. It wasn't worldwide news until October 29 1929. It was known as black Tuesday. By mid 1930 some of the economies had started to recover but some of the effects lasted until world war2.
The international trade went down by 50 percent. Peoples income drastically dropped and unemployment went up to 25 percent. In some other countries 33 percent. The drop in the U.S. economy hurt most …show more content…
Some say that because of fear people quit putting money in the markets. Some say the depression caused a third of banks to disappear. They think if they had gave funding after the big banks failed others wouldn’t have followed.
The Great depression had huge effects on everyone. Rich, poor, housewives, gardener's business etc. Even births dropped during the depression. People could not afford the cost that came with it. Medical things, clothing, putting food on the table are a few of those things. Most jobs was very limited to one person per household. So if the husband was employed the wife could not. Women started doing bigger vegetable gardens so they could put as much food on the table as possible.
Some countries started to recover from so the great depression in 1933 but the U.S. did not. It took around a decade. The unemployment rate was still around 15 percent in 1940. Christine Romer thought more money from international gold was crucial to getting the u.s. back on its feet. It showed little sighs of fixing the problem. There was several theories of what cause and what could help but few seemed to have any
It started in the united states when stock prices went down majorly. That happened seplember 1929. It wasn't worldwide news until October 29 1929. It was known as black Tuesday. By mid 1930 some of the economies had started to recover but some of the effects lasted until world war2.
The international trade went down by 50 percent. Peoples income drastically dropped and unemployment went up to 25 percent. In some other countries 33 percent. The drop in the U.S. economy hurt most …show more content…
Some say that because of fear people quit putting money in the markets. Some say the depression caused a third of banks to disappear. They think if they had gave funding after the big banks failed others wouldn’t have followed.
The Great depression had huge effects on everyone. Rich, poor, housewives, gardener's business etc. Even births dropped during the depression. People could not afford the cost that came with it. Medical things, clothing, putting food on the table are a few of those things. Most jobs was very limited to one person per household. So if the husband was employed the wife could not. Women started doing bigger vegetable gardens so they could put as much food on the table as possible.
Some countries started to recover from so the great depression in 1933 but the U.S. did not. It took around a decade. The unemployment rate was still around 15 percent in 1940. Christine Romer thought more money from international gold was crucial to getting the u.s. back on its feet. It showed little sighs of fixing the problem. There was several theories of what cause and what could help but few seemed to have any