Causes Of The Great Depression - 1319 Words

Do you remember â€Å"the roaring twenties†? It was the lifetime when besides all the conflicts and protests, the U.S. went through a â€Å"dramatic social and political change† says the History.com Staff (para. 1, 2010). And according to the History.com Staff, it led the majority of Americans to move from farms to cities, and cooperate to the economy of the nation to increase radically. Additionally, this age is also when the society started consuming more than previous years, and it also led them to spend time and money in bars, cars, and goods. In the roaring twenties, most people usually had similar music tastes and even danced a lot celebrating the wealth (para. 1, 2010). However, the feeling of having classic satisfying life concluded when the†¦show more content†¦that left people traumatized for its consequences. Causes of the Great Depression When people started to study this economic phenomenon, some causes came out to the light, and even actually the causes of the Great Depression are several, Kelly, M (2017), expresses the â€Å"Top 5 Causes of the Great Depression†, and these are: â€Å"Stock Market Crash of 1929, Bank Failures, Reduction in Purchasing Across the Board, American Economic Policy with Europe, and Drought Conditions†. Stock Market Crash of 1929 The first cause of the Great Depression. The â€Å"Stock Market Crash of 1929†, as Kelly, M. describes in her research, it is remembered nowadays as Black Tuesday, and she assures that everything started on the Thursday 24th of October, 1929, which is the first day of the stock market crash of 1929 (2010). This event is also considered the worst stock market crash in the U.S. history, which precedes the Great Depression. Kelly, M. (2010), also argues that â€Å"The market, which had reached record highs that very summer, had begun to decline in September†, and apparently, it took only a few months to hit its worst situation and to leave an almost impossible coverable economic situation to the Americans in 1929. The â€Å"Black Thursday† was just the beginning. After five days, on Tuesday the 29th, 1929, the society actually saw at that point an expected devalue in the stock market, which according to Kelly, M. (2010), the stock market â€Å"†¦lost 12% of its valueShow MoreRelatedGreat Depression and Its Causes1256 Words   |  6 PagesThe causes of the Great Depression of the 1920s and 1930s has been argued about for generations. Most people agree on several key topics and that it was the severity and length of time the Depression lasted that was actually the most remarkable. 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