Impacts of Stock Market Crash of the U.S
- Roaring 20's: wealth and peace
- the crash: people tried to withdraw their funds, but all the money was lost-Tuesday, October 29,1929
- Impacts: Steel Businesses were at an all time low, construction business, car sales were all low. High Debts= Easy Credit
- The majority of people had to sell their cars and homes, businesses had to start shutting down and laying off people. When people lose jobs they don't have money to buy things The Vicious Cycle of the Great Depression.
- Construction was a big loss in the Great Depression it impacted tons of businesses.
Causes of The Great Depression
- Stock Market Crash- Started on Black Tuesday, marked the start of the Great Depression
- People lost money so they had to sell everything they owned to gain money back
- Bank Failures: Surviving banks from the Great Depression stopped giving loans because they didn't think they could trust it
- People don't have money so they are not buying anything.
- Over Production and Under consumption- people from all classes stop buying products and so the factories were making way to many products and no one was buying which was one of the big thing in The Great Depression
- American Economic Policy With Europe: Smoot-Hawley Tarrif (1930)- farmers were losing money
Comments