The Great Depression Introduction In Essay

The Great Depression Introduction In Essay-15
Another issue was the failures that were encountered in banks. Bank deposits were not insured and therefore people simply lost all that they had saved in the banks.The only surviving banks were not sure of the situation and they too stopped to create other loans that led to less expenditure hence exacerbating the situation.No country is in isolation and its activities affect other countries too even if they do not have a hand in causing the problems.

Another issue was the failures that were encountered in banks. Bank deposits were not insured and therefore people simply lost all that they had saved in the banks.The only surviving banks were not sure of the situation and they too stopped to create other loans that led to less expenditure hence exacerbating the situation.No country is in isolation and its activities affect other countries too even if they do not have a hand in causing the problems.

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It therefore led to the nation having a greater production capacity and could not match in consuming the products.

Moreover, the policies of the Republican administration in regards to war-debts and tariff had led to a decline in market for the American goods (Great Depression, 2008).

It was not mainly the Great Depression as believed by some people but one of the causes.

Those who held stock lost over $40 billion dollars.

The Great Depression led to untold suffering to millions of Americans as well as the devastation of the country’s economy.

The effects extended to other countries as well due to international trade just as it happened during the recent economic down turn.

The effects of the Great Depression were felt both at home and abroad. For example, countries in Europe were affected greatly as their economies were hit hard.

In Germany, the economic blow led to social dislocation that is alleged to have played a major role bringing Adolf Hitler to power (Great Depression, 2008).

The Great Depression compares to the economic recession that took place in 2007 in American and its effects felt on a global scale.

For instance, the following words by president Obama show the similarities “Even though economists may say the recession officially ended last year, obviously for the millions of people who are still out of work… Consequently, job losses and loss of money in the stock market the people fell into massive levels of poverty.

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