The Great Depression Was A Dark Period - 859 Words

The Great Depression was a dark period in the history of the United States, which affected all the economic sectors of the Americans’ lifestyle and greatly suppressed the economic status of the United States, despite so closely following an era that appeared to offer much economic prosperity. There are many contributing factors and causes for this time of poverty and despair, however, some events may have contributed more to the Great Depression than others. These would include events such as the stock market crash of 1929, the maldistribution of purchasing power (overproduction), and also America’s position in international trade. These all greatly impacted America’s future and resulted in the great depression being inevitable. Both domestic and international factors led to the Great Depression, and one of the domestic factors involves the 1929 crash in the stock market. This event has come to be known as â€Å"The Great Crash.† It was in autumn of 1929 that the market actually began to fall apart. October 29, â€Å"Black Tuesday,† marked the day in which all efforts to save the market had failed. Throughout the 1920s, stock prices had been rising steadily, but in 1928 and 1929 they surged forward and the prices of stocks greatly rose and when they reached their peak most people sold their stocks to earn a profit. So many people sold their stocks at a rapid rate that the corporations were unable to pay the shareholders. In this time frame, over sixteen million shares of stock wereShow MoreRelatedThe Hardships through the Life of Pablo Picasso700 Words   |  3 Pagespoverty and hardships in his life. He knew what it was like to be at the bottom of societies standards. He dropped out of school at age 16 to pursue a better art education. Picasso and one of his close friends moved to Paris looking better art opportunities. 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