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Essay / The Great Depression: Causes of the Great Depression
One morning in October, the United States woke up and realized that the stock market had collapsed. Everyone was shocked and confused. People lost most, if not all, of their possessions. The Great Depression occurred in the 1930s and caused people to act, think, and feel in many different ways. They had to preserve what they had and most of the time it was nothing. They felt sad, scared, and confused in a different way. It was not only about the people, but also the government, the police, the authorities and even other neighboring countries of the United States. According to Maury Klein in Rainbow's End, it says: "Black Thursday, 1929. The market opened, said one broker, "like lightning out of hell." The dreaded sales tsunami hit immediately. Never before have so many orders flowed in so quickly from so many places; 1.6 million shares changed hands in the first half hour alone and the pace never slowed. As soon as the phone hung up, it rang again. The rich have become poor. The poor have become even poorer. People who had money were afraid to share it, thinking they might lose it all. No one trusted anyone except themselves and their family. Money is the key to survival in this world. But at that time people were poor. They had no money, so how did they survive? When the market crashed, people lost money. 12,894,650 stocks were lost. $140 billion was lost. That's a lot of money. That's enough to buy 28 billion homes at the time of the crash. People were desperate because they were losing all their possessions. They couldn't pay the mortgage on their house so they had to leave and live in places called Hoovervilles. Hoovervilles are places where people who didn't have a home can build cheap wooden houses... middle of paper ...... e with two bedrooms, a kitchen and a living room would cost around 675,000 minimum dollars now. In the 1920s, it cost a person $6,000,000. That's a big difference. But people didn't have jobs to earn money. They need to ask for help but no one has. So they had to start saving their necessities and stop buying their unnecessary expensive toys, cars, dolls and clothes. In conclusion, the Great Depression was a harsh and disappointing event that will never be forgotten. This event was a difficult time to live through. Some survived and lived to tell their stories. Some died to free themselves from all the problems they faced. And finally, some were murdered by heartless gangs trained to kill, frighten and abuse their surroundings. Some were sad, angry and furious, but most importantly, they were all depressed during the Great Depression..