Great Depression of 1929 - part III

As you can see from the previous posts, the effects of the Great Depression hit the ordinary people extremely hard. With the rise in numbers of homeless and unemployed, feelings like desperation, fear and anger spread throughout the United States. Prior crises would affect mostly city folk, who had invested in Wall Street. Farmers felt secure in 1920s when the economy grew, and planted crops anywhere they could. Most of them felt like price growth could last forever, so the logical thing was to buy more land, thus planting more crops, ergo making more money. As a result, they borrowed money from bankers and fell heavily in debt. To make the matters worse the Dust Bowl effect came. A phenomenon that was caused by severe drought coupled with decades of extensive farming without techniques to prevent wind erosion turned once fertile farms into a desert. Dust storms forced people to leave their homes and banks finished them with foreclosures. To read more about the Great Depression click here.You can also watch a documentary on Youtube of the ordinary people stories during the crisis, first part covering the circumstances of the Great Depression and the second part showing the hardship and the American culture of the period.

Nema komentara:

Objavi komentar