The great depression

Karen Arenas

Summary

1.During the great depression the rate of unemployment increased by a lot. Nearly 25% of the nation was unemployed.

2.Stock market crashed caused the great depression to officially start.

3. President Hoover was blamed for the problems that led to the depression.

4.The great depression was the worst and longest downturn in the U.S history.

5.The massive military ended the great depression because they provided economic stimulus.

Events

  • 1929 Stock market crash: The stock market crash was the reason why the great depression started. It was when unemployment raised & there was a lot of bank loans that could not be liquidated.


  • 1931 Major bank collapse: New York's bank of the U.S collapse in the largest bank failure to date in American history.


  • 1932 Roosevelt elected: Roosevelt defeats president Hoover in a landslide to win the presidency.

Key Person.

Herbert Hoover: Herbert Hoover was born on August 10, 1874, in Iowa. Hoover was raised in Oregon by his maternal aunt and uncle after his parents past away. Hoover connects to the great depression because in the Americans mind they blame him for starting the great depression. In 1928, Hoover was elected president but months later the stock market occur. President Hoover failed to recognize the severity of the situation, he basically didnt do anything to stop what was happening.

Citation

  • "Herbert Hoover." History.com. A&E Television Networks, n.d. Web. 15 Jan. 2014.


  • "Great Depression." Facts. N.p., n.d. Web. 15 Jan. 2014.