FC: The Great Depression Olivia Mayerle om144636
2: What caused the Great Depression? | There were two main factors that caused the Great Depression: purchasing stocks on credit, or margin buying, and speculating the market. Too many people wee buying stocks with borrowed money, and too many people were buying stocks and selling them quickly. This caused an overflow of stocks in the market, which made the prices go down, leading to the crash of the stock market. Panic erupted and people began to withdraw all their money from the banks, and the banks went bankrupt.
3: How long did the Great Depression last? The Great Depression lasted from 1929 to 1941.
6: What was life like during the Great Depression? For many Americans, the Great Depression was a time of intense poverty. Many people lost their jobs because the companies were not making money as no one was buying their products, since nobody had the money.
7: "She said that they had been living on frozen vegetables from the surrounding fields, and birds that the children killed. She had just sold the tires from her car to buy food. There she sat in that lean- to tent with her children huddled around her..." (Photographer: Dorothea Lange.)
8: "Part of an impoverished family of nine on a New Mexico highway. Depression refugees from Iowa. Left Iowa in 1932 because of father's ill health. Father an auto mechanic laborer, painter by trade, tubercular. Family has been on relief in Arizona but refused entry on relief roles in Iowa to which state they wish to return. Nine children including a sick four-month-old baby. No money at all. About to sell their belongings and trailer for money to buy food. 'We don't want to go where we'll be a nuisance to anybody.'" Children of migrant workers typically had no way to attend school. By the end of 1930 some 3 million children had abandoned school. Thousands of schools had closed or were operating on reduced hours. At least 200,000 children took to the roads on their own." Summer 1936. (Photographer: Dorothea Lange.)
10: Life was no better for the immigrants. In those times, the immigrants were not always smiled upon. Now that jobs were being lost and unemployment was rising, the immigrants were looked upon as job robbers. Many of them lost their jobs before American born citizens did.
11: For the African Americans, it went from bad to worse. What jobs they did have were quickly taken away. A strong sense of segregation still existed during that time, and so, much like the immigrants, African Americans lost their jobs first.
12: Who was affected by the Great Depression? Stock sharers were affected. Because less money was coming from their stocks, they were unable to pay their debts to the banks. A lot of them went bankrupt. Bankers were affected because as more and more people were not able to pay off their loans, the banks lost money. When panic filled everyone, they began to withdraw all their money from the banks. Eventually, the banks were not able to give everyone all of their money and were forced to close.
13: Normal citizens were affected because when the banks began to lose money, the citizens began to panic and withdrew all of their money from the banks. The banks did not hold a large stash of cash, and so when everyone withdrew all of their money, the banks went bankrupt. Many people lost their life savings because the banks lost the money. Workers were affected because as more people started saving more and spending less, production levels went down, companies lost money, and workers lost their jobs. | President Herbert Hoover was affected because he was blamed for the whole affair. Many people began to dislike him because it seemed that he was not doing anything. Because his popularity went downhill as he lost supporters, he lost the presidential election to Franklin Delano Roosevelt.
14: How did the Great Depression end? The Great Depression ended when the United States entered into World War II in 1941. When the United States entered, more jobs were created; thus, as people began to get jobs, they also started to spend more which stimulated the economy and caused production levels to go up, demand to grow higher, and prices to raise until eventually, businesses began to make profits again. This led the country out of depression.