Fear in the Great Depression Essay - 1117 Words

Fear in the Great Depression We have every reason to believe that fear played an important role in the Great Depression. I would not go as far as to say that it caused it; it is more analogous to the fuel that fed a tiny flame into the conflagration, it exacerbated it, but did not cause it. Nor do I believe that the depression is in any way caused by the stock market crash. The crash was merely a symptom of a failing economy, not the cause. The cause of the Depression should not be treated as an American problem because its origin was global. The Depression was prevalent in Europe years before the Great Depression came to†¦show more content†¦In the mean time, many farmers destroyed parts of their own produce in the hopes that the price will go up. The economy now showed the first signs of strain. The second telltale sign came from the stock market. During the Roaring 20s, the boom was dependent almost entirely upon confidence of the investors. Since the stock market was unregulated, many people bought and sold stocks of companies that never existed. More appalling was that many people bought stock on margin------ sometimes they only paid 10% price to buy a stock in the hopes that the stock value will increase and pay off their debt. These were certainly unhealthy practices. The hopes of quick wealth was all that matter in those booming times. The following quote from McElvaline neatly summarizes the attitudes of the investors before the Crash: It was a telling analogy. Stock speculation provided a legal spirit of intoxication in a time when intoxicating spirits were prohibited by the Eighteenth Amendment. By the fall of 1929, those who were guiding the market were driving under the influence. A terrible crash, to be followed by unpleasant sobering experiences and an awful hangover were the likely results. (McElvaline 46) The intoxicating confidence of the Roaring 20s certainly fared well in the stock market. Even before the black Tuesday andShow MoreRelatedCarter Hamel. Mrs. Day. Honors 9Th Literature And Composition1402 Words   |  6 PagesCarter Hamel Mrs. Day Honors 9th Literature and Composition - 4 25 April 2017 Trials and Tribulations The Great Depression was the perfect breeding ground for fear and chaos. The United States was drastically impacted, and no one could escape its wrath! The Great Depression not only affected the nation’s economy and way of life, but it also had a huge impression on people’s beliefs and attitudes. Life was a daily struggle, and Americans had to adapt and cope during hard times. People feared theRead MoreAnalysis Of The Film White Zombie885 Words   |  4 PagesAmerican stock market crashed. The economy was crushed, leaving millions of Americans hopeless, scared, and vulnerable. The Great Depression had a huge impact on the culture at the time. The fears they faced were usually portrayed through literature, art and movies during that time period. 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