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Stock Markets Crash
Stocks were being panic sold by buyers -
Dust Bowl
A drought that lasted from 1930 to 1936, known as the Dust Bowl, aggravated the problems of the Great Depression. More than a million acres of farmland were rendered useless because of severe drought and years of over farming, and hundreds of thousands of farmers joined the ranks of the unemployed. -
Bank Failures
Millions of Americans decided to withdraw there money because they saw Stocks starting to fail. -
Lack of Credit
Banks had no money to lend because people were withdrawing so much money. -
People Stop Spending Money During Great Depression
When the stock market crashed, and the banks failed, and unemployment levels reached higher and higher points, people understandably stopped spending money. -
High Unemployment
When consumer spending plummeted during the Great Depression, unemployment rose, reaching its highest level in 1933, when 25% of the workforce was idle.