Write a 5 page essay on 1929 America crisis.In this paper, I will start with an overview of the great depression. I will also look through the causes that have been considered to lie in the base of th

Write a 5 page essay on 1929 America crisis.

In this paper, I will start with an overview of the great depression. I will also look through the causes that have been considered to lie in the base of the American crisis of 1929. Finally, I will also dwell on social and economic effects of the great depression on America and conclude by looking through the end of the Great depression in America (Burg 90). OVERVIEW OF THE GREAT DEPRESSION The years preceding the Great Depression were marked by economic recovery evidenced by a rise in stock prices in 1928. The situation of trade in the preceding year also greatly mushroomed, and Americans were so engrossed in their economic prosperity that it became very easy for an individual to access a credit. The signs of a fluctuating economic situation became noticeable in the autumn of 1929, and the crisis was a surprise and a major blow to those who were caught unaware. This was followed by several activities by financial movers to save the economy: it is on Tuesday in October 1929 that 16 million of stock shares were directly traded, and the industrial index declined by the amazing 10%. Within the period that followed, shares of stock continued to lose their value at more than a half. It is these events that marked the official beginning of the American crisis of 1929 (Watkins 67).