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World War 2

World War II

Can you imagine living in a country that was completely poverty stricken? On every street corner you would find yourself looking at dozens of homeless people. What if the country you lived in today, United States of America, was still trapped in a depression. All the commodities and spoils that we take for granted every day is would never exist if the depression was still going on today.   Some people say that Franklin D. Roosevelt was an astounding president for getting us out of the depression. But I respectfully disagree and say that Roosevelt was not the direct cause of ending the U.S. depression. No, it was and unforgettable event in world history called World War II.

On Thursday, October 29, 1929, panic swept the country as many began to sell their stock as investors realized that their stocks were over inflated bubbles. Over the next two days the stock market had completely crashed. By the end of that year sixteen billion dollars had been lost by the stock capitalization. From there things began to topple in a horrific domino effect. Banks who had invested money into the stock market were at an astronomical disaster. Due to the crash banks lost all their money including their depositor’s money. Ten-thousand banks had failed and one-hundred-forty billion dollars just disappeared. The financial system had fallen to shambles with mass poverty sweeping the nation. No longer was there and American dream but a great depression that took its place.
reymundo 2
From 1929 to 1933 Herbert Clark Hoover during his presidency was blamed for all of the problems that had been related to the Great Depression. We have all heard about hoover flags and hoovervilles. Then you hear people blaming him as one of the worst presidents in U.S. history for not taking any steps to fixing the depression. Hoover not taking any steps to fixing the depression is a complete misunderstanding which is why he is not even ranked as one of the top ten worst U.S....