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The Great Depression

Imagine losing all of the money you've ever earned in a few years.
This may seem quite far fetched, but the Crash of 1929 made this a reality.
The crash of 1929 established the beginning of America's most memorible era; the great depression. According to the London Penny Press, following the week of Black Thursday, one could go to New York and see speculators hurling themselves from windows because they had lost everything in the crash. (The Great Crash 1929-Galbraith) Many people had everything they could ever dream of before the crash occurred
, but after the crash they found themselves poor, hungry, unemployed, and devastated.
ErmDux14: Of course during hard times people need someone or something to blame, and unfortunately the president of the United States Herbert Hoover was a very convinent candidate. Most people didn't
realize the nature of the economy. It cannot
continue to skyrocket forever, and very rarely does it just level off ; therefore the crash was inevitable. Before the crash many previous presidents and their administrations practiced lassiez fairer, and for the most part kept out of the market and its issues. However, in 1929 the situation was so immense that Hoover had no choice but to get involved. He came to the aid of the people as best as he could. Never before had a president had to deal with such a situation. President Hoover didn't
receive
enough credit for the things he did. Many didn't
realize that there was very little he could actually do.

ErmDux14: The stock market is a very strange thing. It can be very unpredictible, yet patterns can be detected. After the industrial revolution and with America gaining prosperity, the New York stock market found itself doing quite well. The stock market continued to boom which meant real estate and stock prices would also increase in value. One could look in the paper day in and day out, and find his stocks were continuing to rise. The increase success
in the stock...