The great depression was bad because it was a world wide economic problem. There was a widespread of unemployment, major stops in industry production and construction. 89% dropped in stock prices.
Dow jones industrial average fell 23% causing the market to lose between 8-9 billion in value.
The great depression
The Great Depression By: Andrew Gaynor, Mary Woods, Ross Woods
What caused the GreatDepression?There are multiple thingsthat started the GreatDepression. The maincause was the stockmarket crash in 1929where stockholders lostmore than $40 billiondollars. The other causeswere Bankfailures, Reduction inPurchasing across theboard, American economicPolicy with Europe, andDrought conditions.
Why was it so bad?It was so bad because it wasn’t a smallproblem. It was world wide and lastedup to 3 years.
What happened to peopleDue to inflation billionswere left homeless and outof work. Those who wereemployed only got halftheir usual paycheck.
What programs assistedrecovery?The programs that werecreated by PresidentRoosevelt to assist therecovery of the GreatDepression was the FirstNew Deal, the Second NewDeal, Works ProgressAdministration(WPA), U.S.Housing Authority, andFarm SecurityAdministration
Work cited• Taylor, nick. “The great Depression in the 1930’s”• http://topics.nytimes.com/top/ref erence/timestopics/subjects/g/gre at_depression_1930s (28 march,2012)• Frank G. Steindl “Economic Recovery in the Great Depression” http://eh.net/encyclopedi a/article/Steindl.GD.Recovery (28 march, 2012)• Martin Kelly “Top 5 causes of the Depression” http://americanhistory.about.com/ ad/greatdepression/tp/greatdepre ssion.htm• Kathy Gill “What caused the Great Depression” http://uspolitics.about.com/od/ec onomy/tp/what_caused_great_de pression.htm