Summary of the Great Depression

Tyler Dureg 

Noah Apuya 

  The Great Depression was the longest economic downturn for the western industrial world.
"Bank deposits were uninsured and thus as banks failed people simply lost their savings." It put many people unemployed  from jobs, it wiped out millions of stock investors on wall street and caused steep declines in industrial output. Due to the spending and investments to stock that were lost caused business to slow down production and made them to fire the workers because of lack of money to pay the workers. Stocks bought with borrowed money were wiped out due to the stock market crash, which effected banks  that people borrowed from because they lost millions of shares that were traded that day. Due to the loss of invested shared stocks borrowed by the banks money that caused businesses to slow down production and not make profit to pay the workers forced them to lay off the workers.

"The imbalance between the rich and the poor, with 0.1 percent of society earning the same total income as 42 percent, combined with production of more and more goods and rising personal debt, could not be sustained." Due to all the production and no workers it caused the rich to become poor and the poor become even more poor. With the drop that happened two years later the farmers had to sell their farm to the rich but it didn't help the rich at all because it did not make much profit to help them sustain themselves. Due to no workers it caused businesses to slow down all production and caused the rich to be poor and the poor to be more poor.







"The Great Depression." History.com. A&E Television Networks, n.d. Web. 11 Feb. 2015.

Kelly, Martin. "Great Depression - Top Five Causes of the Great Depression." N.p., n.d. Web. 11 Feb. 2015.