Too much Credit use
Further Explanation:
Great Depression is considered the worst economic shutdown in the history of industrialization and this period lasted for 10 years starting from 1929 to 1939. During the period of great depression, 15 million Americans lost their job and were left unemployed and nearly half of the banks of the US had failed and the main reason behind the weakening of top nationalized banks was that they gave way too much of a credit to the people who were in requirement of it but then banks were not able to recover that money.
There were too many reasons which led to the great depression. But the main reason behind the Great depression still remains a matter of debate. Great depression initiated with the market crash and that triggered the panic among the investors. It was followed by deflation in the assets and prices of various commodities that came down and there was a dramatic drop that was registered in demand and credit and these all things ultimately led to widespread unemployment and panic among the people of the United States.
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2. How did California differ from the united states in terms of interactions of whites and natives?
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Answer Details:
Grade: High School
Chapter: The Great Depression
Subject: History
Keywords:
Great Depression, Stock Market, Unemployment, United States, Panic, Banks, Jobs, Credit, Commodities, Inflation.
