"In other periods of depression, it has always been possible to see somethings 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."
The Great Depression is the "Worst that could happen with in American History". Started right after the the fall of prices is stock market, which lead to the Stock Market Crash of October 29, 1929, also known as "Black Tuesday.
The Great Depression affected on rich and poor equally. Taxes, incomes, profits and prices dropped, while the international trade plunged by mote than 50%. The level of homeless and unemployment people was as higher as ever in American History. All cities and people's business were highly damaged, especially farmers. People started to learn how to survive through such difficult time.
The Great Depression affected on rich and poor equally. Taxes, incomes, profits and prices dropped, while the international trade plunged by mote than 50%. The level of homeless and unemployment people was as higher as ever in American History. All cities and people's business were highly damaged, especially farmers. People started to learn how to survive through such difficult time.
CAUSES OF THE GREAT DEPRESSION.
The main cause of The Great Depression was Stock market crash. However, the main cause was people's careless of spending money. People in 1920s spent all their money on entertainment and it caused overspeculation. Because lots of money stayed in banks without money rotation , money became meaningless , which leas to inflation. Also, because people spent much money without thinking, they started to take credits, in the end they started living on credit without returning money.
The main cause of The Great Depression was Stock market crash. However, the main cause was people's careless of spending money. People in 1920s spent all their money on entertainment and it caused overspeculation. Because lots of money stayed in banks without money rotation , money became meaningless , which leas to inflation. Also, because people spent much money without thinking, they started to take credits, in the end they started living on credit without returning money.
Turning point and recovery
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