The great depression took place in the 1930s and was severe across the world. It was the deepest
and long spread depression in the 20th century. The stock market crashed causing high
unemployment, low profits, lost opportunities for the growth of the economy, poverty, deflation
and personal advancement. This depression started for a whole decade causing marriages to fail
and also the suffering of families. The great depression caused a lot of emigration whereby some
people left their countries while the others went back to their native countries. There was a high
change in how the government dealt with the economic downturns.
One of the causes for the great depression was bank failures. Paul A. 13 An average of 700 banks
failed while another 3000 collapsed. People lost all their money due to the collapsing of banks.
In additional to people began withdrawing their money which led to more closing of banks. The
institution that were left standing were unwilling to lend money due to fear for their survival.
After the people had lost their savings and their jobs it was hard to pay for any items that had
been bought through installments and therefore making it hard to elevate the economy.
The crash in market stock was the main catalyst that caused the collapse of the American
economy. There was readily available credit that made it easier for consumers to spend a lot. The
consumers opened accounts using money that was borrowed. They in turn used those accounts to
purchase items which acted as collateral to for the remaining price. The consumers purchased
goods that they could not afford therefore causing the prices of stock to inflate.
Conclusion
The great depression was one of the biggest issues in the 20th century that left people out of
work, desperate and hungry. The great depression caused farmers to loose their livestock and had
to travel to other places in search of a better life. The crash in the stock market was the main
cause for a collapse in the American economy.
reference
Gusmorino, Paul A. "Main causes of the Great Depression." Gusmorino World 13 (1996).
and long spread depression in the 20th century. The stock market crashed causing high
unemployment, low profits, lost opportunities for the growth of the economy, poverty, deflation
and personal advancement. This depression started for a whole decade causing marriages to fail
and also the suffering of families. The great depression caused a lot of emigration whereby some
people left their countries while the others went back to their native countries. There was a high
change in how the government dealt with the economic downturns.
One of the causes for the great depression was bank failures. Paul A. 13 An average of 700 banks
failed while another 3000 collapsed. People lost all their money due to the collapsing of banks.
In additional to people began withdrawing their money which led to more closing of banks. The
institution that were left standing were unwilling to lend money due to fear for their survival.
After the people had lost their savings and their jobs it was hard to pay for any items that had
been bought through installments and therefore making it hard to elevate the economy.
The crash in market stock was the main catalyst that caused the collapse of the American
economy. There was readily available credit that made it easier for consumers to spend a lot. The
consumers opened accounts using money that was borrowed. They in turn used those accounts to
purchase items which acted as collateral to for the remaining price. The consumers purchased
goods that they could not afford therefore causing the prices of stock to inflate.
Conclusion
The great depression was one of the biggest issues in the 20th century that left people out of
work, desperate and hungry. The great depression caused farmers to loose their livestock and had
to travel to other places in search of a better life. The crash in the stock market was the main
cause for a collapse in the American economy.
reference
Gusmorino, Paul A. "Main causes of the Great Depression." Gusmorino World 13 (1996).
