The Great Depression started in 1929 and was the worst economic downturn in US history. It came with a big stock market crash. A stock market is a system that allows people to buy or sell Shares. The Shares are small pieces of a company that people could buy or sell according to how well the company is doing. In 1929, the stock market failed completely. The companies weren’t making enough money. Almost all the men lost their jobs, they couldn’t make enough money to feed their family. America became poorer and poorer due to the high demand and the low employment. This economic failure also known as a depression was one of the worst the United States ever experienced. Therefore, it was called the Great Depression. To add on to this whole mess, there was a severe drought in the middle of the U.S. Many got sick and died due to the dust caused by the dryness. The Great Depression finally ended when World War II created jobs as war supplies were needed for the war.
Stock and Share are economic systems that enable us to buy or sell pieces of other companies. A Stock represents a share in the ownership of a company, including a claim on a part of the company's earnings. In other words, stockholders are almost a partial owner of the company. Share is basically the same, but the only difference is that share is a more specific term of ownership of a particular company, while Stock is a more general term of ownership of multiple companies. The basic advice of the Stock market is buy if the business is doing well, keep if the business stays the same, and sell it if the business is failing. During the Great Depression, the Stock and Share system failed. No companies were making money and the stocks were just worthless.
Almost all the residents suffered in the United States during The Great Depression. However, I believe that the rich people suffered the most. That is because wealthy people would become poor due to the Stock crash. The poorer citizens wouldn’t really have any change because they are used to the stage of being poor. But the richer stage is not. They would have to suffer in poverty they’ve never been through before. It would not be the same for them. They would lose all their treasures and rare items. The richer people suffer more than poor people because they are not used to living in poverty and the poorer people are.
Though the richer people suffered more than the poor, the poor suffered a lot, too. Many people lost their jobs and were not able to feed their families. The farmers lost their farming land. Many of them moved to the west to find more jobs to be able to have money to survive. If I were a farmer in those days, I would’ve moved to the west. I would at least have a chance of getting a job and raising my family. But staying where I am, I won’t even stand a chance of getting any food or money. And even worse, I might get sick from the dust bowl caused by drought in the middle of the United States. Then I might die. I won’t stand a chance of living in the place where I used to live, but I might be able to live a good life if I move to the west. That is why I’d rather move to the west than stay.
The Great Depression happened in 1929 and came with a huge stock market failure. During that time, many people lost their jobs and suffered in poverty. A share is an ownership of a part of a company and a stock is ownership of multiple companies. I think that the richer people suffered more during The Depression because they had never suffered in poverty. Also, I would’ve moved to the west if I had a poor family in The Great Depression. Today, the pandemic has swept around the world and taken away people’s jobs. Restaurants and convenience stores have all been closed down due to Covid. The owners of those stores could no longer make money and afford education for their children. Unemployment caused the economy to drop. Covid-19 is very similar to The Great Depression.
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