Friday, April 12, 2013

Great Depression

During 1929, the unify States was experienced the Great Depression. It was the worst economic surrender ever in U.S. history. By the end of the year, unemployment rising, business mop up its doors, and poverty on a rise in the United States. President Herbert Hoover tried to fight the Great Depression, exclusively didnt make much difference. some(prenominal) fearful citizens wanted a drawing card who would do more to lighten the crisis. They found that leader in Franklin D. Roosevelt, who foreshadowd the nation a New Deal and with that promise won the election of 1932. Roosevelts New Deal had deep make upon American history. Franklin D. Roosevelt solved the low and got the economy rolling again.

The depression was caused by a number of serious weaknesses in the economy. The low cause was Easy Credit. Although the American economy prospers in the 1920s, more or less of this richness was based on leisurely credit. The Federal sustain Bank kept low interest rates, making it easy for businesses and individuals to borrow loans. This policy encouraged people to go into debt. Many people bought new homes, cars, and appliances on installment plans. Instead of remunerative the full price of an item at the one time. They adept made a small down payment and accordingly paid monthly installments over a set compass point of time.

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As long as people could buy on credit, factories kept busy and jobs were plentiful.

The second cause was Risky investments. slightly investors expert speculation, ignoring the true value of memorys, they tried to buy stock while it was going up and then sell it at high price. They believed that they could always sell at a higher price, speculators bought and traded stocks above their actual value. Some people speculated on borrowed money, riotous that the stock market would continue to...

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