were unemployed and by the next year another 2 million were added to that leaving 6 million Americans without jobs by 1931 (The Great Depression). On October 29‚ 1929‚ also known as “Black Tuesday”‚ the stock market crashed. This was caused by the trade of millions of stocks in one single day‚ sending Wall Street into a panic and naming the start of ten year economic depression. Following the crash‚ many American people rushed to the banks to retrieve their money and savings but at this time the banks
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The Great Depression: The Extensive Effects The 1920s was a time of roaring prosperity. Even mid-October of 1929‚ the average middle-class American saw an “illimitable vista of prosperity” (Dixon 1). The thought of poverty was close to an end; in 1928‚ President Herbert Hoover stated‚ “We have not yet reached the goal‚ but given a chance to go forward with the policies of the last eight years‚ and we shall soon with the help of God be within sight of the day when poverty will be banished from the
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Great Depression From Wikipedia‚ the free encyclopedia {draw:frame} Dorothea Lange’s Migrant Mother depicts destitute pea pickers in California‚ centering on Florence Owens Thompson‚ age 32‚ a mother of seven children‚ in Nipomo‚ California‚ March 1936. The Great Depression was a severe worldwide economic depression) in the decade preceding World War II. The timing of the Great Depression varied across nations‚ but in most countries it started in about 1929 and lasted until the late 1930s
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Causes of Depression Depression is a psychological disorder when the human being has negative thoughts and behaviors due to low mood caused by stress‚ overwork‚ or any other events. Among doctors depression is seen as an illness or disorder. When depression occurs‚ one might also have headache‚ slow speech‚ feel pain through entire body‚ digestion problems‚ and problems with sex. Depression happens to people of any age; every person experiences it differently. An old-age person with depression
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There were many primary causes for The Great Depression‚ Unequal distribution of money to the economy‚ and the stock market speculation‚ and much more which all played a major factor for The Great Depression. The Great Depression impacted everyone‚ it impacted different people of all kinds of backgrounds. It was a low time for Americans in the 1920’s‚ and for other countries also. One of the causes were Uneven Prosperity‚ 0.1% of families made 100‚000$ a year‚ and 80% had zero savings. 200
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The great depression was one of the most severe economic situation that the world had ever seen which took place during late 1929 and lasted till 1939 was one of the deepest and long lasting economic downturns in the history of western civilization. This depression began a bit after the stock market crashed in the month of October of the year 1929 which wiped out millions of companies and send into panic rich investors. As the years passed people realized they would need to spend less money therefore
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The social effects during the great depression. In the early 1930’s there was the great depression. This was caused when the market went into recession and did not recover causing the markets to crash and people lost all of their money. The great depression effected all of the people in many ways‚ one of the ways was socially. Firstly: The most effected people were the working class. Secondly: The class which was effected a little was the middle class. Finally: The class which was hardly effected
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The Great Depression The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world. In the United States‚ the Great Depression began soon after the stock market crash of October 1929‚ which sent Wall Street into a panic and wiped out millions of investors. Over the next several years‚ consumer spending and investment dropped‚ causing steep declines in industrial output and rising levels of unemployment as failing companies
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Cause and Effect Essay By: Katie Costa American International University 10-24-10 Abstract The essay I will be writing about is the cause and effect of a recession. There have been many recessions around the world. I will be writing about what a recession is and what happens to cause them. I will also be writing about what the effects and aftermath of a recession are. A recession is an economic failure. We live each day to work and make money
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The Great Depression "In other periods of depression‚ it has always been possible to see some things which were solid and upon which you could base hope‚ but as I look about‚ I now see nothing to give ground to hope—nothing of man." - Former President Calvin Coolidge‚ 1932 The 1920s was a time of roaring prosperity marked by booming business and negligible unemployment. Even during the October of 1929‚ the thought of poverty was close to an end. In fact‚ in 1928‚ President Herbert Hoover
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