This is a short and fun rap which clearly explains the cause and effects of the Great Depression. The rap is fun to listen to because of it's amazing to beat so you are having fun like when you listen to music but learn as much as you do in school.
This link will lead you to 40 interesting facts about the Great Depression.
Since people lost money from Black tuesday, they weren't able to spend money since they lost money. Also, since stock companies’ price went down, everybody in those companies salary went down because the companies lost their value so everybody in that company lost money. People were not able to spend as much which meant that products and commodities’ prices went down. Since one dollar was a larger percentage of the new prices of products, stocks, and commodities, the value of one dollar went up. This can be good if it is a moderate amount, but the value of the dollar rose so much it was bad because many people were not able to afford anything.
On October 29, 1929, the stock markets crashed, this is known as Black Tuesday. Black Tuesday was a huge cause of the depression. What happened was investors lost over 14 billion dollars in the New York Stock Exchange. At the open of the Market investors found out priced had gone down a lot the last day. Everybody tried to sell because of this, which cause a commotion and eventually so many people tried to sell that price went down lower and lower. Also, on people were taking loans to buy more stock, also known as buying on the margin, so people’s loans went in debt. Finally, a few big banks bought a lot of stock to try and show strength in the market but instead investors thought this meant that they knew it was weak and cheap so they sold even more and the price dropped even lower.
Hooverville is what homeless shelters or parts of town were called. This is because the great depression was blamed partially on the president of the time, President Hoover, since he didn’t make much of an attempt to help. Unemployed and homelessness rates were terrible which made entire towns of homeless people, these places were known as Hooverville. Homelessness rates were also high because people went on the margin (they took out loans to buy stock) which caused them to be in debt after Black Tuesday and go homeless and live in Hoovervilles.
President Hoover was a huge factor in causing of the great depression. He tried to think of ways to increase spending which would help businesses prosper and help business’s stock to rise after Black tuesday. However, he didn’t think of anything and figured that people’s troubles would take care of themselves but naturally, they didn’t, and he didn’t help the harsh times at all.
This picture shows how desperate people were for money and how far they went to get money. At the top of the picture, you can see that the lady is devastated that she has to take these measures to get money. She doesn't want to look at the camera since she is clearly so disappointed in herself and sad. This truly shows the hardships people went through in the Great Depression.
This is a picture that shows how people were affected by Black Tuesday. A man that was probably successful since he had a nice car, lost all his money from the stock market. This is proof that Black Tuesday made many successful business men and women go broke or even homeless, and have to sell their possessions like this man in the picture.
This image shows how companies didn't have enough money to pay people their salaries since Black Tuesday hurt nearly every public companies' (company's with stock that is publicly bought on a stock exchange) value and made or almost made some companies go out of business. Not only did business's lay people off, but people lost all their money or went into debt from the stock market and needed money but did not want to go back into the stock markets after their failure on Black Tuesday. This is just one example of many people trying to get jobs after becoming unemployed. Then, after Black Tuesday when people started making less money, business lost even more money since people couldn't pay for products so the companies couldn't afford as many employees so more people were laid off and the unemployment rate rose even more. This is just one example of unemployed people trying to get jobs.
This is a famous image that emotionally affects people on what happened in the great depression. This is a woman that could not afford to take care of herself or kids. This is an extremely sad and moving picture which shows why the Great Depression was so depressing and it shows the effects of being unemployed.