The Great Depression

The grand low gear What was the great low gear? The great effect was a mankindwide economic crisis in the 1930s. It was the longest, most widespread, and deepest falloff of the ordinal century. In the 21st century, the bully low is commonly follow reveal as an example of how faraway the military personnels economy can decline. The depression originated in the U.S., galvanizeing with the blood in birth prices that began close to September 4, 1929 and became worldwide news with the line commercialize flashing of October 29, 1929 known as sable Tuesday. From there, it quickly spread to secure ab pop pop out every country in the world. Some economies started to recover by the mid-1930s. However, in some(prenominal) countries the negative effect of the Great Depression lasted until the start of World War II. What were the causes of the depression? 1. As too in brief as 1926, there were signs that the crush was under threat this was seen in the collapse of land prices in Florida. 2. Eventually, there were too more goods being made and not enough people to leverage them. 3. Farmers had mystifyd too much diet in the 1920s, so the prices for their build became lower. 4. There were too many another(prenominal) small banks these banks did not have got enough funds to coping with the sudden rush to attention out savings, which happened in the nightfall of 1929. 5.

Too much precondition on the stock market the middle class had a lot to lose and they had spend a lot on what amounted to pieces of paper. 6. The Wall Street crash of October 1929 was a massive cordial blow. 7. America had lent broad sums of money to European countries. When the stock market collapsed, they suddenly recalled those loans. This had a devastating impact on the European economy. 8. The collapse of European banks caused a general world financial crisis. What were the consequences of the depression? 1. Unemployment - 13 million people were out of work. 2. Industrial production dropped by 45 per cent amongst 1929 and 1932. 3. House-building...If you urgency to get a good essay, order it on our website: Ordercustompaper.com

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