Question

explain the features of Great Depression

Answer 1

.) The crash of the banks left many without money

2.) the crash of the economy caused many businesses to close their doors. Without jobs, people lost houses and other property. (My maternal grandfather lost his house but my paternal grandfather was an Electrical Engineer. He worked through the Depression.)

3.) A massive drought hit the USA’s breadbasket turning it into the ‘Dustbowl’. Many of them moved west (Okies).

4.) Interestingly enough, those places that could still farm for a living were barely affected by the Depression because they were mostly growing their own food. Barter was the coin for several years until the economy picked up.

5.) The blame for the Depression could be placed on multiple sources. If the banks had been shored up with FDIC equivalent guarantees, the Depression might not have been as bad. The wild speculation in the Roaring 20’s also should have been regulated better but everyone was feeding at the trough while no one was watching.