By: Bria Patel, Tiffany Hill, Christina Rapert
Before the Depression
A number of strikes, by the industrial workers, showed the dissatisfaction that they faced. Farmer employment dropped because of the falling agricultural prices. It was crystal clear from the working class that every thing was not well socially in America.
The Great Depression
Although the stock market did effect farmers in rural areas, it did not, at first, hit as hard as it had for the urbanites. Farmers could make their own food, clothing, and did not spend money on frivolous items that their urban counterparts had done before. But the farmers felt the Depression when they could not sell their products for what they had sold them before, or even at all.
After the Depression
Although they were particularly unaffected at the beginning of the Great Depression, farmers in rural areas soon found themselves to be in deep trouble. In the early 1930's, the Dust Bowl had begun in the central part of the United States. Farmers soon found themselves out of food for their families or to sell. By 1932, everyone in America was feeling the effects of the Depression era.
What was the difference in stock prices from 1920-1929?
How do you account for the dramatic change in stock prices from 1929-1932?
Few people actually took the time out to study the fundamentals they invested in. Most thought a crash would never happen!
In 1929, many banks failed and fewer homes were built. Over the next few weeks, prices dropped significantly.