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• The Great Depression was a worldwide economic depression. It began in 1929 and lasted 10 years. It spread rapidly from the United States to the rest of the world as a result of the interconnection.
• In 1920s, the stock market was a popular way to earn some extra money. By 1929, the prices were much higher than the actual prices. People started to think that prices wouldn't increase forever. So, they started to sell their stocks. Thus, there was no one left to buy. As a result of that, the prices were dropped sharply.
• The situation was made worse by the Dust Bowl. A drought hit the middle states around the same time to The Great Depression. Farmers, who remains staible during economic uncertainty because they can grow their food, were suddenly in as much trouble as the rest of the country.
• In 1932, Franklin Roosevelt was elected as President. He wanted to stop the depression. He started a new program called the New Deal to fix the problem.
* https://www.commonlit.org/texts/an-overview-of-the-great-depression
• In 1920s, the stock market was a popular way to earn some extra money. By 1929, the prices were much higher than the actual prices. People started to think that prices wouldn't increase forever. So, they started to sell their stocks. Thus, there was no one left to buy. As a result of that, the prices were dropped sharply.
| The Great Depression |
• The situation was made worse by the Dust Bowl. A drought hit the middle states around the same time to The Great Depression. Farmers, who remains staible during economic uncertainty because they can grow their food, were suddenly in as much trouble as the rest of the country.
• In 1932, Franklin Roosevelt was elected as President. He wanted to stop the depression. He started a new program called the New Deal to fix the problem.
SUMMARY: The Great Depression began with the Stock Market Crush of 1929 and was made worse by the Dust Bowl. President Roosevelt responded to the economic calamity with programs known as the New Deal.*
Emel
References:* https://www.commonlit.org/texts/an-overview-of-the-great-depression