No one single factor caused the Great Depression of the 1930's. A blend of occasions combined to create a best storm of economic collapse, with each event developing upon the other folks as the circumstance spiralled out of control.
throughout the era known as the Roaring Twenties, America had a flourishing economy. assured in both the stock market and the banking industry, people invested and borrowed closely to invest even more. As the 1930's dawned, it introduced with it a the natural disaster of drought, which hit farming industry hard during a time period of time known as the Dust Bowl. Farmers, unable to grow plants or meet their tax responsibilities, left their farms, heading into the city. The first ripples of collapse had begun.
People now saw the confidence in the stock market shaking, and began to withdraw money and sell stocks. Some people lost everything and were unable to pay back the lending options they had used out in prosperous instances; in turn, the banking industry began to fail. With banks being uninsured, people lost their life savings. individuals who had any money left lost all hope in the banks and withdrew all of it, preferring to keep it themselves than take a chance of losing it. The banks were no longer inclined to risk signing any more homeowner loans, and people were uninclined to risk getting the homeowner loans. The banking industry was reeling.
As people became afraid and more poverty stricken, they had to cut spending. Once thriving companies started to feel the affect of the Great Depression. These businesses collapsed, causing more economic chaos and large numbers of unemployed. Unemployment was at its peak; women joined the job searches en masse for the initial time, adding to the competition for obtainable work. It was not uncommon to have hundreds of applicants for a single job opportunity. families left the cities in hope of finding opportunities elsewhere, further adding to the routine of business collapse. In the 1930's the Authorities tried to boost the economy by creating the Hawley-Smoot Tarrif to protect American business; the concept of taxing imports at even higher rates backfired as international locations lowered trade with the U.S. These international locations were also indebted to America for lending products received through World War I that they could not pay off.
Life in the Combined States turned hard, even for people accustomed to luxurious. The Great Depression was an equalizer like no other; formerly wealthy stood shoulder to shoulder with the poor in bread lines. families were evicted and lived in shantytowns referred to as "Hoovervilles" after the web design manager they held responsible for the collapse. Shelters were developed from cardboard, broken down cars, newspaper, garbage cans and something else available. Men, unable to present for their households, abandoned them at an unprecedented rate to "ride the rails," a term coined for travelling in boxcars.
It looks the Great Depression ended around the time the U.S. entered World War II. Job opportunities once again flourished as America produced weaponry and other necessities to sell to other countries.
throughout the era known as the Roaring Twenties, America had a flourishing economy. assured in both the stock market and the banking industry, people invested and borrowed closely to invest even more. As the 1930's dawned, it introduced with it a the natural disaster of drought, which hit farming industry hard during a time period of time known as the Dust Bowl. Farmers, unable to grow plants or meet their tax responsibilities, left their farms, heading into the city. The first ripples of collapse had begun.
People now saw the confidence in the stock market shaking, and began to withdraw money and sell stocks. Some people lost everything and were unable to pay back the lending options they had used out in prosperous instances; in turn, the banking industry began to fail. With banks being uninsured, people lost their life savings. individuals who had any money left lost all hope in the banks and withdrew all of it, preferring to keep it themselves than take a chance of losing it. The banks were no longer inclined to risk signing any more homeowner loans, and people were uninclined to risk getting the homeowner loans. The banking industry was reeling.
As people became afraid and more poverty stricken, they had to cut spending. Once thriving companies started to feel the affect of the Great Depression. These businesses collapsed, causing more economic chaos and large numbers of unemployed. Unemployment was at its peak; women joined the job searches en masse for the initial time, adding to the competition for obtainable work. It was not uncommon to have hundreds of applicants for a single job opportunity. families left the cities in hope of finding opportunities elsewhere, further adding to the routine of business collapse. In the 1930's the Authorities tried to boost the economy by creating the Hawley-Smoot Tarrif to protect American business; the concept of taxing imports at even higher rates backfired as international locations lowered trade with the U.S. These international locations were also indebted to America for lending products received through World War I that they could not pay off.
Life in the Combined States turned hard, even for people accustomed to luxurious. The Great Depression was an equalizer like no other; formerly wealthy stood shoulder to shoulder with the poor in bread lines. families were evicted and lived in shantytowns referred to as "Hoovervilles" after the web design manager they held responsible for the collapse. Shelters were developed from cardboard, broken down cars, newspaper, garbage cans and something else available. Men, unable to present for their households, abandoned them at an unprecedented rate to "ride the rails," a term coined for travelling in boxcars.
It looks the Great Depression ended around the time the U.S. entered World War II. Job opportunities once again flourished as America produced weaponry and other necessities to sell to other countries.
