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Stock Market Crash
The Stock Markets had no were but to go up, and had underwent rapid income reaching it's peack of potential, but then soon crashed. Low wages, and debt has liqudated the bank. -
Nearly half US banks have failed
Once the stock market crashed people paniced and withdrew all of their money from the banks. People were withdrawing all of their savings and the banks soon ran out of money. They had no choice but closing down. This happened across the country. -
Industry profits start to fall
The industry profits started going down slowly when the banks fail because when they werent getting as much profit it accellerated the proccess of economy going down. These industries could not bring themselves out of this hole they were in during this time because when you have no buyers, you get no money coming in. -
Unemployment, and low incomes
Unemployment rates of the U.S. hits around 25%, with more than 11 million people looking for work. Farmers even lost their lands, homes, and animals due to forclosure as a result to the Dust Bowl that cleaned the areas idealed for workplaces. -
Consumer Purchasing Falls
People stopped buying consumer goods out of a the fear of loosing the little money that they had, because of this, it made workers,and stores lose money to the point of leaving them dry to go out of buissness. -
Credit dries up
The Dust bowl has mad a major impact upon finances, as it has also closed down banks across the nation, and credit. Americans were forced to use the little money they had for necessary resorces to struggle upon because of that disaster. This also left them in an emmince amount of debt. -
International economic fail
Eventhough the stock market wasnt the sole cause of the international economy failing, it was something that helped cause it. Imports and exports slowed down and international banks had lost all there money.
