The Great Depression

The great depression was one of the hardest times in American history.
Why?? Because many people had lost their homes and jobs, thousands of dollars
and they had a very little amount of income. It is the longest-lasting economic
downturn in the history. It began after the stock market crash that hit the Wall
Street. Stock market crash marked as the start of an era called The Great
Depression where inflation is out of control and stock exchange collapsed. At that
time, most of the citizen of America live with anxiety because they are job less,
since many companies laid off workers. They are also hard to survive because
agricultural commodity prices increases, some of the agriculture are rotting on the
land or crop failures occur, due to lack of funds to harvest hence, they cannot
support their daily needs.

The stock market crash was the only beginning of the Great Depression
where stock holders had lost over 40 billion dollars, which resulted in banks
failing. So, people had lost their entire savings. This resulted many people stopped
buying things. No one buying things meant no need to make things, and that causes
more job losses. As many business fail during that time, the government increased
the taxes.

This great depression leads to poverty and reduced American people’s

prosperity as many failing stock prices.