October 24, 1929 marks the day, of which will forever be known as the great depression. On this day, both the United States and the world were thrown into a vicious cycle of poverty and unemployment. The combination of unbalanced asset distribution, and severe market crashes. Gave birth to the greatest economical disaster of American history. At the start of the 1920's, the U.S. began disparately transferring large unequal sums of wealth. These transfers included parties from the rich and the middle-class, the U.S. and Europe, and also between industries and agriculture. This large imbalance of wealth caused our stock market to artificially climb in worth. Thus eventually causing very large devastating crashes. Such as the crash that took place on October 29, 1929. A day of which will always be remembered as Black Thursday. After Black Thursday, my family's farm quickly turned from a source of great profit, to our only source for life.
Being the oldest of three siblings, I......
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Approximate Word Count: 598
Approximate Pages: 3 (260 words per double-spaced page) |