Why The Longevity Of The Great Depression - 1649 Words

Why the longevity of The Great Depression? Austin Metcalfe History 240 Dr. Higgins April 16, 2015 The nineteen-twenties displayed an amazing advancement of the world economy as production, industry, and the stock market all were in overall good shape, until nineteen-twenty nine. The Stock Market crash in October of nineteen-twenty nine, started the worst economic crisis the entire world has seen. However, the crash wasn’t the only factor that contributed to the economic depression until the mid-nineteen forties. There were several other factors that extended and aided in the longevity of the economic downfall including banking crisis, agricultural industry, tariffs, distribution of wealth, and total reduction of consumption spending in order to rationalize the idea that the stock market crash wasn’t the only variable that caused The Great Depression and the struggles that followed. The factor most looked at sequentially after the original disaster in the stock market crash would be the banking crisis that ensued. This crisis was partially in direct re sort of the stock market crash, however the industry was heading for trouble no matter how drastic of a stock market crash was. During the first initial spike of the stock market starting in nineteen twenty-four, the banking industry saw this as a great opportunity to take advantage of a new market of customers as well as the interest rate that followed on the return. The decline of the banking industryShow MoreRelatedThe Effect of an Optimistic Attitude on a Person’s Health1197 Words   |  5 Pagesdo, in a problematic life situation. Optimistic attitude can help the person to live longer, recover faster from the mortal diseases like cancer and coronary heart disease, and avoid alcoholism and psychological problems(like depression). Optimistic attitude is a great way to feel better, even during bad times. 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