What Caused The Great Depression Essay

The Great Depression began in 1929 and drug on until 1942. It was a very dark period in Unites States history. The 1930s were dark years for the American population which resulted in people being ruined, killed, and devastated. The Great Depression cause was rooted early in the 20th century. World War I caused a huge demand from Europeans wanting American made goods. Europe received these goods on on a credit basis due to the lack of funds caused by the strain of war. What was thought of to be a good idea by Americans and Europeans alike ended up being the main cause of the depression. The United States economy was ruined for many years due to the piles of debt that the multitude of loans caused. The stock market crashed of 1929 began a downward spiral for the united states. Thousands of workers were laid off and had no income whatsoever. On October 24,1929 stock values dropped rapidly so this day was named “Black Thursday.” A multitude of people lost their life savings. Huge sums of money were lost and stock prices fell flower than anyone predicted. Banks had to shut down due to losing tremendous amounts of money. Bank closures started a scare of people not being able to get their money out of
Millions of Americans suffered as a result of what was happening. Many people died of malnutrition and disease. Thousands of homes were lost due to the inability to make mortgage payments. This resulted in welfare agencies opening up trying to offer as much support as possible to the homeless. Once successful people were lowered to stealing food or eating scrapes out of the garbage cans and building shacks to live in.Some farmers decided to not ship their goods to markets in hopes of a rise in prices which backfired and food was even harder to obtain. A series of droughts and dust storms swept across the mid-West and Southwest regions of the country to make matters