Causes and Effects of the great depression.docx - Daoud 1 Omar Daoud Great Depression Essay Causes and Effects of the Great Depression In the 1920s

Causes and Effects of the great depression.docx - Daoud 1...

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Daoud 1 Omar Daoud May 30, 2019 Great Depression Essay Causes and Effects of the Great Depression In the 1920s everything was booming with strength and stability, in which many people became prosperous. However, just like any other nothing lasts for a long period of time, people were urged to spend their money wisely. Many people believe the stock market crash was the main cause of the Great Depression. Yet, it was many factors including bank failures, stock market crash and overproduction of crops. Not only that but it resulted in bank, business and factories failing, unemployment, and homelessness. The stock market crash of October 1929, brought all prosperity to an end, creating an economic crisis. In which many people were buying on margin, many would buy stocks with borrowed money—money they didn’t have. At first it was a great thing especially for buyers when the stock market was good. However, when the stocks plummeted it created a financial
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