FC: The Great Depression
1: The Great Depression took place from 1930 to 1939 . During this time the prices of stock fell 40%. 9,000 banks went out of business and 9 million savings accounts were wiped out . 86,000 businesses failed , and wages were decreased by | by an average of 60%. The unemployment rate went from 9% all the way to 25% about 15 million jobless people . The cause of The Great Depression is unequal distribution of wealth , high tariffs , war debts , over production in industry and agriculture , and financial panic.
2: Balance leading to deterioration.The result was a drying up of world trade that further fueled the economic.The American loans and markets almost vanished. | The business cycle had long had its ups and downs . If this downswing turned out to be worst than any previous one .The reason must be sought in the profound structure changes . The United States has not yet learn how to play its part .As its erratic financial policies , and high tariffs.
4: Markets affiliated farmers already in trouble from overproduction from a burden of debt incurred in expanding production . With unemployed workers suffering from hunger . | By 1933 26.6% of people were wage earners were unemployed . Workers were either fired , or laid off . At this time were struggling to survive . Many lived in small shacks . Some lived on the streets . They barely had enough money to eat. They had to make things by hand , because it was cheaper than buying it . This mainly affected the poor and middle class . The Great Depression ended when we went to World War two . Because it created jobs.