he Great Depression: How the Great Depression Occurred

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The Great Depression
Introduction
The great depression is considered as the deepest and longest financial and economic downturn that occurred in 1929-1939). The great depression took preeminence in the U.S following the crash in the stock market in 1929, an aspect that sent Wall Street into frenzy (Kaufman.504). This paper seeks to conduct a study on the great depression in a bid to determine how it occurred, the manner in which it impacted the people’s lives, how the people survived it, and the lessons that can be borrowed from this crisis today.
How the Great Depression Occurred
The America economy entered the great depression in 1929 when the consumer spending immensely dropped, and unsold goods piled up, thus slowing the process of production. During this period, the stock prices continued to increase, and by the end of the year, they had reached levels that would not be justified in contrast to the future earnings (Kaufman.510). The stock market bubble finally burst an aspect that led the investors to dump their shares en masse, with the consequences of this resulting in the great depression.
The Impact of the Great Depression of People’s Lives
The impact of the great depression is considered to have demoralized family units and a lack of confidence and trust in the government. On the other hand, the lives of the Americans turned out to be chaotic since the crash in the market left no room for agriculture to sell its produce to the general population (Chong-Yahet.al.165). Families were broken during this time to gain survival, with the poverty levels increasing in the U.S.
How People Survived the Great Depression
People survived the great depression by preserving and treasuring foods that...