i have to do a report about it and i dont know what to say about it so pls help me
How does the crash of 1929 affect the average american
also pls give a brief introduction of the crash and explain the consequences and or benefits... thnx
what did we learn from this? help me pls
2007-01-09 15:34:05 · 9 answers · asked by cuteypie 1 in Education & Reference ➔ Homework Help
I would suggest you read through http://en.wikipedia.org/wiki/The_Great_Depression
Good Luck!!!
2007-01-09 15:41:07 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Many people believe the Great Depression was caused when the stock market crashed in April of 1929. However, the is significant evidence that the crash itself was not to blame, rather the government's response - trying to fix it - that caused the onslaught of economic problems. This attitude is most likely to be found in the strict capitalist camp. There was a similar market crash in the early 80s that did not result in the same widespread turmoil and many say that it is because the government had a more 'hands off' approach to it. So, as far as lessons learned, you could make an argument that we learned to let the market correct itself and that has benefited us. As far as the average American, you may not need look further than your own family. If you can, interview a grandparent or great-grandparent (or a friend's) about what they experienced.
2007-01-09 15:48:10 · answer #2 · answered by eschampion 3 · 1⤊ 0⤋
The main problem was "buying on the margin" which meant that a person would pay for about 30-50% of a stock, while the broker paid the rest of it for them (the broker would borrow that money from a bank). Well, this was dangerous because when the stock market would dip even a little, people would freak out and try to sell their stocks but there would be no buyers...so basically the bankers told the brokers they needed the debts paid back, and the brokers told thier investors they needed the other 50-80% of the money back BUT nobody had the money...very sad thing.
2007-01-09 15:49:16 · answer #3 · answered by dixiegirl 1 · 1⤊ 0⤋
Hundreds of factors, buying on margin, 5 years of dustbowl, famine, uncontrolled inflation, we past laws to prevent it from happening again but are forgetting the lessons and reapelling them rhe depression was a major of WWll. Th US just didn't start fighting until 3 years after Brittian, Canada, France etc
2007-01-09 15:43:01 · answer #4 · answered by Sid B 6 · 0⤊ 0⤋
The Great Depression was caused when the stockmarket crashed. Everyone owed the banks money and couldn't pay it.
2007-01-09 15:37:31 · answer #5 · answered by Anonymous · 2⤊ 0⤋
It was because of the stockmarket crash.
I would be here a long time telling you what it did to my grand-parents of both sides of my family but it is a little (no pun intended) Depressing.
Good Luck with your report.
2007-01-09 15:45:34 · answer #6 · answered by LS 4 · 1⤊ 0⤋
http://en.wikipedia.org/wiki/Great_depression
2007-01-09 15:37:57 · answer #7 · answered by Tiff 5 · 0⤊ 0⤋
check google jeeves wikipedia
2007-01-09 15:45:25 · answer #8 · answered by koalabear 2 · 0⤊ 0⤋
http://en.wikipedia.org/wiki/great_depre...
2007-01-09 16:23:07 · answer #9 · answered by :DsMiLe 2 · 0⤊ 0⤋