FC: The Great Depression
1: On October 29th, 1929 the great depression started when the stock market crashed.
2: The stock market crashing caused a chain of events and effected ever nation.
3: Because of the stock market crashing over 9,000 banks failed, 9 million savings accounts were lost, 86,000 companies went out of business, and the unemploment rate increased by 16%.
4: The worst thing that happened because of the stock market crashing was all the banks that failed.
5: Because the banks failed, millions of people lost their life savings.
6: Why did the banks Fail?
7: When the stock market crashed people that had stock lost all their money they spent on the stocks. | Most people got loans from the banks to pay for the stock. The banks got the money for the loans from peoples savings. | When the stock market crashed, people didn't have the money to pay of the loans meaning the banks couldn't give people back their money.
8: People started taking out all their money, however because the banks weren't able to give back all the money many people lost all their life savings.
10: Life during the great depression was very rough. Many people lost their jobs. People that still had their jobs had their wages cut, most by more then 50%. most were given more work with less pay.
11: A lot of people also lost their land because they were not able to pay for it. They lived in run down shacks
12: Most people were not able to afford cloths and because most didn't have water they weren't able to bath.
14: The great depression ended because of World War 2. When we went into WW2 it created more jobs for people. Jobs meant people would get money and less people would be unemployed.
15: Lasting between 1929 and 1939, the great depression is one of the darkest times in USA history.