Uh oh, the stock market crashed! What are we going to do!
Many people lost their jobs.
Honey, i am very sorry to tell you this, but due to to the stock market crash, I lost my job.
The great depression was caused when the stock market crashed in 1929. This day was also known as black Tuesday. Losing 14 billion dollars which is worth 199 billion dollars today.
Because of the stock market crashing, millions of people lost their jobs. About 25 percent of men were unemployed. This caused people to start to panic.
Gap between the rich and poor
Its so unfair! The rich get so much more!
Thousands of people became homeless and they blamed the government for not helping. And eventually there was about 1,000 protesters demanding for help. When the people became homeless they had to live in hoovervilles and build developments out of scraps.
Descrimination against African Americans
Throughout the 1930's over 9.000 banks failed. Meaning about 70 banks failed each year. This caused many people to lose their savings and it was another reason the great depression started.
The bank failed and I lost all of my money!!
The great depression was also partially caused by the gap between the rich and the poor. This meant that there was an unequal distribution of wealth between them. The rich had about a third of all the wealth while the poor had no savings at all.
During the great depression, African Americans jobs would either disappear or get taken over by whites and people would not hire them for new jobs. They protested for greater social and political rights. Eventually, there was programs that gave African Americans economic help.