FC: The Causes and Effects of the Great Depression
1: It all started in the 1920s the prices of stocks were going up. As prices rose so did business cost. This lead to a point where business’ were having a hard time staying competitive and profitable. This all started Tuesday, October 29, 1929. The day the stock market crashed.
2: After the crash Americans started spending less and saving more. This lead to less production of goods and that led to less jobs, causing the unemployment rate to go higher and higher. The government passed laws to try to help the United States rocover, such as the Smoot Hawley Tariff. Unfortunately this only worsened the U.S.'s condition.
4: THe stock market crashing caused a lot of bad outcomes for businesses. Throughout the 1930's 9,000 banks failed. Some banks just lost of their savings. Surviving banks were less willing to hand out loans.
5: Not being a direct cause of the Great Depression, the drought that occurred in the Mississippi Valley in 1930 was so bad that many people could not even pay their taxes or other debts. In result, they had to sell their farms for no profit to themselves.
6: The Great Depression lasted for twelve years, which eventually led the U.S. to join WWII
7: LIfe was very tough during the Great Depression. Money was not an option. People were trying to save as much as they could but it just wouldn't help and it seemed as if the economy could not get better.
8: I think that everyone was affected by the Great Depression, especially consumers.
9: The Great Depression ended with World War II.