The Period Of Great Depression
In 1920, United States became world’s leading nation. European Union was devastated with economic challenges after World War 1. In 1920s, people started to buy stocks in order to earn fast income through stocks. However, in 1920s, more than 400 million people invested in the stock market. While inexperience investor were engaged in speculation, the myth that they will be gambling with higher risk in stocks. However, with speculating with stocks and buying on buying with stocks on margin could mean financial doom for investor. Afterwards, the stock market took a turn to worst.
This is what happened exactly, investors sell their stock rapidly in 1929. Most people think that the great depression started in October 1929, with the famous black Tuesday. Stock market crash is often know as wall street crash. The period of great economic depression had started after this day. It had started from USA and affected every country.
America faced economic losses. However, property’s price decline. People lost their jobs and bank sector was shutdown due to shortage of outstanding amounts. In 1932, USA held election, Franklin Delano Roosevelt, also known as FDR, was elected as 32nd President. FDR was considered a magician in “Great depression period”. After he took office, his government faced different challenges. His first challenge was to take out his people from the nightmare of great depression period.
He delivered his first speech in 1933. His first few words made a history. Franklin Delano Roosevelt said, “the only thing we have to fear is fear itself”. After that, he introduced 100 days plan for the people of USA. He implemented series of programs, put millions of American back to work and took people out from the poverty and restore their fate in the government. He combated civism and fear. He reinvigorated democracy and transformed our country. That is exactly what Americans want from their politicians.
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