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The Great Depression

by Luke Hoos

Pages 2 and 3 of 10

The Great Depression
By, Luke Hoos
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What really was The Great Depression?
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People often think..
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Well, it was a severe worldwide economic depression that took place mostly during the 1930s beginning in the United States.
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So now that we know what it was. What actually caused The Great Depression?
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The 3 main things were International economic crises, Unequal wealth distribution and Continuous reckless spending.
Those 3 causes led to, Black Tuesday...
Black Tuesday - October 29, 1929 - The big stock Market Crash. Panic, fistfights and even people fainting was a result of this. Absolute devastation and as a result $14 billion all gone.
So, what comes as the result of Black Tuesday?
It creates a ripple effect throughout U.S. economy, it does not actually CAUSE the Great Depression, instead it just sets it loose.
Who was the President during The Great Depression?
It was, President Herbert Hoover who was the 31st President of The United States. Before the Market Crash, he did many good thing like increasing Native American protections.
Some people may be wondering, what did the President do to help out during The Great Depression?
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Simply put.. nothing. He believed in American Individualism and "pulling yourself up" mentality without government "hand outs."
You can only imagine what happened to his popularity after that..
Americans felt like the one person they could rely on to be a leader let them down and major panic between citizens broke out because of this.
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