Tuesday, February 16, 2016

Great Depression

        The Great Depression was America's biggest economy downfall  ever.   "In 1929, one of Americas biggest stock market crashed causing the biggest economic struggle in the entire world."  America struggled in finances from 1929-1939.  This was the "longest lasting downturn in the industrialized world."  Due to the Great Depression, many people lost their jobs and became unemployed.  As the economic struggle deepened, America became not only in financial trouble, but political as well. Many hard-working individuals struggled with poverty. 
        During this period, comparnies struggled in making money, and many people didn't have jobs. "About 12 - 15 million Americans were left unemployed". Since men were expected to provide for their family, they felt humiliated and disappointed that they could not get a job. Females and children sometimes had to take on new responsibilities, just so that their family could survive. "By 1933, 11,000 of the nations 25,000 banks had disappeared." Nearly half of America's banks had failed, due to the large amounts of people that needed to withdraw cash. These people needed to take back their money, so they could feed their families. The Great Depression was a time of hardships and setbacks for the people and their families. 

http://www.econlib.org/library/Enc/GreatDepression.html
http://thegreatdepressioncauses.com/great-depression/banks/

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