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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