The Great Depression or The Crash of the Stock Market in 1929

The crash of the stock market in 1929 was not the first economic crisis in America, yet it is the one everyone remembers. During this time Americans faced many hardships. The number of poor rapidly increased because of the banking crisis as well as a shortage of jobs which caused the unemployment rate to skyrocket. Countless families were left homeless and children went hungry. Many Americans became hopeless; it seemed like their lives were over. Farmers migrated to Northern cities with their families with hopes of finding a better lifestyle. Some headed towards California to mine for gold. Americans wanted to escape the nightmare of the depression. Music and entertainment during this time were among the few outlets that gave people hope of a better future. From books to movies, people wanted to escape from the harsh realities in any way. Cars and telephones also increased communication and helped people to escape. Before the Depression not many people owned phones or radios but af terwards they were much more affordable and were common in families. Without the radio and other sources of entertainment people may not have been able to make it through the depression. It didn’t all turn around, though, until the New Deal and World War II. President Roosevelt’s New deal created multiple programs that aided America in getting back on her feet. It funded and created massive projects that put people to work, which not only increased the publics morale, but stimulated the economyShow MoreRelatedThe Great Depression : A Worldwide Economic Downfall That Was Preceded By The Stock Market Crash Of 19291356 Words   |  6 PagesThe Great Depression was a worldwide economic downfall that was preceded by the Stock Market Crash of 1929. The timing of when the event hit countries varied; for some it started in 1929 following the Stock Market Crash and for others didn’t begin until 1930 and lasted until the late 1930’s or early to middle 1940’ s. It was the longest and most severe economic depression up to it’s time. The Great Depression affected many businesses, homes, families, people, and investors. During the 1920’s TheRead MoreEssay on The Great Depression, Annotated Bibliography879 Words   |  4 PagesCecchetti, Stephen G. Understanding the Great Depression: Lessons for Current Policy . Monetary Economics (1997): 1-26. This article is about the circumstances that led to the collapse of the economy in 1929. It relates to my research proposal because I am evaluating historic events that led to the financial crisis of 1929. The article discusses how deflation played an important role in expanding the depression, and how the Gold Standard, a monetary system in which a country’s government allowsRead MoreEssay on Stock Market Crash as the Cause of the Great Depression1211 Words   |  5 PagesWhat Was the Exact Cause Of The Great Depression? The United States Great Depression leads many people to believe different stories about what actually caused it. The Stock Market Crash in October of 1929 is often referred to as the beginning of the Great Depression, but did it actually cause it? The answer is that it was the spark that lit the flame of the Great Depression. The Great depression was a financial decline that started in 1929 and lasted through most of the 1930s. Its pinpoint wasRead MoreThe Stock Market Crash and The Great Depression in the US781 Words   |  4 Pages Stock Market Crash 25 billion dollars lost in 1 day, roughly 25% of the nations population was without a job, and the suicide rate skyrocketed. These are just a few factors that turned the Stock Market Crash of 1929 into the Great Depression, one of the longest and worst economic downturns of that time, according to History.com. 16 million shares were lost at the New York Stock Exchange, eliminating thousands of investors on October 29th, 1929. The Stock Market Crash impacted the United StatesRead MoreThe Stock Market Crash of 19291289 Words   |  6 Pagesat home or in the bank into the stock market. People migrated to the prosperous cities with the hopes of finding much better life. In the 1920s, the stock market reputation did not appear to be a risky investment, until 1929.First noticeable in 1925, the stock market prices began to rise as more people invested their money. During 1925 and 1926, the stock prices vacillated but in 1927, it had an upward trend. The stock market boom had started by 19 28. The stock market was no longer a long-term investmentRead MoreThe Effects Of The Stock Market Crash Of 19291552 Words   |  7 Pagesas it did in 1929. Even today, there is controversy regarding the causal events leading up to the stock market crash of 1929. The question most debated is- which factor was the greatest contributor to causing the crash? Many think the answer is simple, for example, unemployment. On the contrary, the answer is quite complex because there were many interconnected causes. When answering this question, it is first crucial to analyze the causes of the crash and the causes of the depression that followedRead MoreEssay about The Great Depression in America1156 Words   |  5 Pagesfar fetched, but the Crash of 1929 made this a reality. The crash of 1929 established the beginning of Americas most memorible era; the great depression. According to the London Penny Press, following the week of Black Thursday, one could go to New York and see speculators hurling themselves from windows because they had lost everything in the crash. (The Great Crash 1929-Galbraith) Many people had everything they could ever dream of before the crash occured, but after the crash they found themselvesRead MoreThe Stock Market Crash Of 19291683 Words   |  7 PagesOn October 29, 1929, investors took a turn for the worse and were just in the beginning of a huge crisis that would cause them to lose everything. This crash pushed many Americans to depression, suicide, and destruction. By 1933, 4,000 banks had closed and Americans started to panic. The stock market crash of 1929 was a major turning point in the history of the United States and billions of dollars were lost. During the 1920s, throughout the country, there were social, economic, and political changesRead MoreThe Stock Market Crash Of 19291437 Words   |  6 PagesBy early 1929, people across the United States were rushing to get into the stock market. The profits seemed so certain that even many companies placed money in the stock market. In addition, even more problematic, some banks placed their customers money in the stock market (without their consent). With the stock market prices rising, everything seemed fantastic. Many believe incorrectly that the stock market crash of 1929 is the same as the Great Depression when in fact; it was one of the majorRead MoreEssay on The Great Depression1118 Words   |  5 Pages   Ã‚  Ã‚   In 1929, A Yale University Economist Irving Fisher stated. quot; The nation is marching along a permanently high plateau of prosperityquot;.(5) 5 days later the stock market crashed and the worst economic downturn in American history called the quot;Great Depressionquot; began. The Depression started in 1929 and would last for a decade until we entered War World II. The Great Depression affected every part of economy and no job was safe. In 1929 unemployment was at 1.5 million and by 1933