The Great Depression

The Great depression occurred between 1929 and 1939, right after the roaring twenties; a time of economic roar.   Prior to the Great Depression high production and high prices with a "supply-side" economic was encouraged by President Hoover; with the thought that the economy would right itself (Day, 2009).   "There were many warnings: high unemployment, lack of consumer buying, loss of homes and farms as mortgages failed, and strikes and riots when workers could no longer earn a family wage"   (Day, 2009, p. 284). The great depression was the worst economic depression in the history of the United States, and the economy plummeted.   The major cause of the great Depression was due to the stock market crash on October 29, 1929, a day known as black Tuesday.   Other causes were bank failures and tight financial policy.   As stocks declined banks went bankrupt, people panicked and withdrew their money from banks. "This created a domino effect" (DeGrace, 2011, p, 1).   The Depression of the 1930’s demonstrated that social and economic forces rather than individual fault created poverty (Day, 2009). The Great Depression affected everyone whether you were rich or poor, black or white and did not discriminate between class and racial lines. Many people suffered during this time as people lost their homes, jobs and money in the stock market. Unemployment was high and people didn't have money to provide for their family's basic needs such as food, clothing and shelter.  
The Great Depression affected the rich, poor, minorities and women differently. However, not everyone was affected in the same way.   Some very wealthy people felt no impact by the Depression, although some of the wealthy had to work to preserve their businesses and family.   Other wealthy people became poor, after losing stock and were unable to recover their losses.   The economic crisis of the Great Depression also affected racial minority groups such as Mexican Americans, Black Americans, American Indians and...