Essay about The Ingredients of the Great Depression

The Great Depression originated in the United States with the stock market crash on October 29, 1929. The depression was the biggest economic fall in American’s history. This crash stretched throughout the globe and affected the rich as well as the poor. There were many causes that assisted in bringing the depression into existence. However one of the main causes was the disproportionate riches during the nineteen-twenties. The gap between the rich and the working class people was the enlarged industrialize production during this period. Also in this period production cost fell quickly, wages rose slowly and prices remained steady. The government contributed to this gap. The federal income taxes were reduced dramatically by the Revenue†¦show more content†¦This growing inequality of the wealth between the wealthy and poor made the United States economy unstable. Many people believe the Stock Market crash and the Great Depression are one in the same. In the nineteen twenties the Dow Jones went from sixty to four hundred. People became instant millionaires. Trading became America’s favorite pastime and a quick way to get rich. There were Americans mortgaging their home and investing their life savings in stock such as ford. However, there were many fake companies that formed to deceive the inexperience investors. Many investors did not believe that a crash was possible; they all thought the market would always go up. With the stock market declining, the banks began to see decrease. Bank deposits were uninsured and as banks failed people simply lost their savings. Being unsure of the economic situation and how they would survive themselves was unwilling to give new loans. These situations lead to less spending. When the stock market crashed and the worries regarding more economic decline, people from all classes stopped purchasing consumer products. Which lead to reduction in consumer products being made, this caused a reduction in the workforce. As people lost their jobs they were unable to pay for the items that were bought on credit. The unemployment rate rose and cause even less spending to assist to lesson the economic situation. American business started failing. The government tried to helpShow MoreRelatedFast Food Vs Healthy Food Essay1120 Words   |  5 Pagessomething about fast food, I have just been so passionate about it, and have always wondered what’s in fast food and why is it so inexpensive. I feel like fast food ingredients and prices should be expressed to the public, in which why fast food products are sold for so cheap. Addressing the products ingredients, and why their ingredients are so heavily processed is most definitely important for people’s health. 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