The Great Depression

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The Great Depression

Post  NellieBennett on Mon Apr 29, 2013 10:18 pm

The brief period of prosperity that began in Europe in 1924 ended in an economic collapse. Two factors that caused the Great Depression are economic and financial failures.

Economic:
- Downturns of economie if individual nations in the second half of the 1920's.
- Prices for farm products fell due to overproduction.
- Increase in use of oil and hydroelectricity led to slump in coal industry.
- Poor distribution of wealth.
- Reliance on credit.

Financial:
- Much of European prosperity in 1920's was built on US bank loans to Germany.
- The US stock market boomed in 1920's.
- Stocks rise to unrealistic levels.
- By 1928, American investors pulled money out of Germany to invest it into stocks.
- By October 1929, the US stock market crashed, and stock prices plunged.

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Re: The Great Depression

Post  KaylaNicole on Wed May 01, 2013 12:12 am

Key Facts:
-  The Great Depression started in 1929

- The Stock Market Crash was one of the main reasons for the Great Depression. Billions of dollars of stocks were lost.

-  The Stock Market crashed on October 29, 1929. This day is known as "Black Tuesday."

-   As a result of the crash unemployment went up, people lost their homes, people were very poor and could not afford the necessities of life.

-  Fifty percent of the children in the United States did not have "adequate food, shelter, clothing, or medical care." Some went completely without these necessities. Children started fainting because they did not have enough to eat.

-  Many people had to go to soup kitchens to get food. The lines were very long. People would spend all day waiting in line just to get a small meal. Soup kitchens were run by charities.

-  Some people did not even have a soup kitchen to go to. People had to pick trash to find food.

-  In the 1920s there were no governmental programs to help those who had fallen on hard times. As a result of the Great Depression we know have many governmental agencies to help in times of need.

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