Question

What effects the Great Depression?

Answer 1

@just_one_last_goodbye

Answer 2

@jabez177

Answer 3

@YoungStudier

Answer 4

people lost their jobs when the market crashed

Answer 5

Okay anything else??

Answer 6

http://thegreatdepressioncauses.com/effects/

Answer 7

Also the Economy was going pretty low and if my memory isn't failing... I think we were at war at the time.

Answer 8

Anything else?

Answer 9

I answered this exact same question yesterday... Can't quite remember what I answered though. Let me see.

Answer 10

Okay

Answer 11

Basically The Great Depression was a time of struggles and poorness. A lot of people couldn't get jobs and they had to make a living somehow. And it affected a lot of countries. Farmers, cities, and all the places where there could be work, there was none.

Answer 12

Thanks

Answer 13

The U.S. was the most economic country in the world after World war 1 and Europe was suffering due to war damages. We were prospering greatly in many ways. New inventions were coming out such as TV, washing machines, vacuums, etc. This actually influenced american lives to make life easier but these products such as the Automobile (the car) were very expensive, and thats were credit came out ^_^ people would give a down payment and purchase their dream products. But people wanted to make fast money so they turned to the stock market, and tired making incomes to get fast money. But the thing was if the stock was lost... you would loose it and you will still have to pay the loan. Practically gambling ^_^ If they would keep the stock they would... get quick profits. The stocks started to fall and investors started to loose their money, so other investors quickly sold their stocks so they wouldn't loose their money, making the stocks fall to the ground. As we all know the Stock market is the main place where it controls all our economy. 641 banks closed down due to this event by the end of the week, more than 5,000 would close in the next several years. So Americans scared they went to their banks and took out their money fearing that their bank will close down as well. If people took out their money... they lost customers and then.. they were forced to close down. Most companies saw this and they started firing their employees to keep the business running or lower the employee's salary. As this continued... the people or companies had less money to pay back their depths or loans and the American families barely had money to even support it self anymore. So that means many more people lost their jobs so the companies can have enough money to pay off their loan.