Causes Of The Depression example essay topic

A tragic melancholy era, known as "the great depression", spread worldwide to several locations and affected much of the world population. It had extreme causes, responses, and resolutions. Much was formulated through a new lifestyle of recovery and hard work. The stock market crash on October 24, 1929 was "Black Thursday". Causes of the depression were numerous.

Stock prices rose to unrealistic levels on account of the crash, and inflation spread nationwide. The American industry over-expanded its production facilities, creating more products than consumers were able to purchase. As the economy grew worse, the Federal Reserve Bank insisted on collateral before offering any help. Credit served as a key factor for the American people to owe oversized debt. International trade decreased because of the previous World War I expenses, which impaired Europe's economy. Hence they were unable to purchase as many products.

Tariffs hindered the business for international markets in the U.S., since people who resided in the U.S. preferred to buy the same product for a cheaper price. Germany held the greatest burden and was the most in debt than any other country globally. The massive defeat in World War I caused them an exceedingly high obligation that they did not have to the allied countries. The effects were devastating.

President Hoover ordered businesses not to cut wages and gave government loans to farmers. His short prediction of the depression crisis was in vain. On July 28, 1932, the bonus army, veterans of World War I, also protested for not receiving their bonus payment thirteen years early. They were eventually sent away by extreme force under orders of President Hoover. As a result, people turned on Hoover and the votes for Franklin D. Roosevelt were unanimous the next election. "Hooverville's", people in poverty who rebelled against Hoover, were the scums of the earth.

In the city, hoards of jobless people roamed the streets and jumped out of buildings to escape their financial problems. The agricultural world was not any different. Tenant farmers were foreclosed off their land due to insufficient funds. The Okie migration to California was a harsh journey for many. The final destination was difficult in itself as well because of the fierce job competition. Working long hours with small pay broke some family ties.

Women received more positions in the work force, though also facing discrimination. Although, it was worth the effort to support their families. Hoboes deserted families after a failed attempt to look for jobs throughout the country. Despite defeat, others found success and inner strength during the juncture and walked away with a stronger family bond. Though times were bad, the entertainment industry and mass media became prominent.

People escaped mentally from the depression to treat themselves to a Hollywood production or an upbeat form of amusement. Especially because of the new "talkies" or movies with sound became well known. Cars also became "the ultimate escape machine" (348), a fad and necessity for every person. A status symbol was etched from just knowing whatever car a person owned. Consequently, tourism grew to the third largest industry in the U.S. because of the automobile's new popularity and pride. Trailers also became famous promoting the freedom of living.

The electronic markets continued to climb even during the worst years of the depression and were a savior to many. Writers and artists had this opportunity to express their emotions during the Depression-era, such as John Stienbeck who wrote The Grapes of Wrath. Much of the people started over from scratch after the infamous Depression economic crisis. One event after the other made the future inevitably unforgettable. The aftermath was mundane, though there were also some positive factors that made this age notorious. After resolving some conflict of depression, worldwide instability then caused the rise of bitter repulsion that was then foreshadowing World War II.