The Great Depression started in 1929 and spread across the world. In the earlier years of the 1920s, people were happy. There were plenty of jobs for everyone, and rich people had parties. But disaster struck on October 24th and October 29th, 1929, when stocks were sold at ever-falling prices. The failure of the stock market caused many people to lose their jobs. Many people became poor. This period of little business activity was called the Great Depression, and it was different from other depressions in that it impacted the U.S. and other countries more severely than other depressions.
During the Great Depression, the stock market crashed, and many people lost their jobs and became poor. The stock market sells shares. A share gives a person part ownership of a business. You see, every company has shares. If few people buy shares, then few people will help a company and the company will go bankrupt and close down. This would cause the people in the company to lose their jobs and become poor. On the other hand, the Dust Bowl of the 1930s made people in the Great Depression more miserable. The Dust Bowl started when there was a drought. The lack of rain made the ground dust, which became dust storms. Many people got sick because they inhaled dust for a long time. Many crops were unable to grow and the lack of crops also made many people starve. Many families left their land and traveled to another place, but there were not enough jobs there . So, the Dust Bowl and the stock market crash severely impacted the U.S.
The Great Depression influenced many people, but the poor suffered the most damage. During the Great Depression, the prices of many goods rose; this situation was called inflation. No longer able to afford food and other necessities, poor people could only survive by getting free food from bread lines or beg. And since the poor had little money, they had a minimal chance of earning more money, because many job opportunities closed off. Also, poor nutrition, poor living conditions, and the lack of medical treatment led to many poor people getting sick. While rich people could sustain their health. So, the poor suffered the most in the Great Depression.
The Covid-19 pandemic had negative impacts on the global economy. Firstly, schools didn’t thrive in this situation. Because many people were kept at home, students didn’t go to school, so the teachers had a low salary, this made many people poor. Secondly, the stock market crashed like in the Great Depression. As the prices got lower and lower, investors sold their shares hurriedly which pushed the prices of shares even lower which caused companies to lose money. Last but not least, the pandemic affected the production of goods. The number of goods that was sold plummeted which meant that many shops earned little money, which caused their staff to receive low pay. So, the Covid-19 pandemic put the global economy in a bad state.
In conclusion, the Great Depresssion was an event that impacted the U.S. in a bad way. The crash of the stock market caused many people to lose their jobs and become poor. At the same time, a drought happened and the lack of water made the ground become dust, which later on, became dust storms. These storms cause many families to migrate to other places. On the other hand, a few years back, in 2020, there was a pandemic called Covid-19 which affected school, the stock market, and manufacturing. Therefore, it negatively affect the global economy.
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