Mar

Top Great Depression Guide!

Now that you are here, you may want to download your free audio of one of the Wealth Mindset Books of all time. Thanks for visiting!

The Great Depression was a period of economic and social devastation that started in the US with the Wall Street stock exchange collapse on October 29th, 1929, the day that has come to be well-known as Black Tuesday.

The great depression facts, record that the poorest and most difficult times which were to follow, might last for lots of years, till the beginning of World War II, when a lot of countries began pouring huge sums of money in the new war driven economy, finally bringing unprecedented worldwide slump to an end.

What mustn’t be forgotten of course is that in those days, there was no social support. If you were penniless and hungry, there was nowhere or no-one to turn to. It was under such circumstances as these that one of the most shocking depression statistics emerged, that 50% of all children did not have adequate food, shelter, clothing, or medical care.

For most persons, too poor to put food on the table, the only choice was the soup kitchen, where persons waiting all day for a bowl on meager, thin, watery soup. People were reduced to hunting among the dustbins for something to eat.

Industry ground to a halt, virtually. Because people didn’t have any money, they couldn’t afford to buy anything. With no income coming in from sales, businesses were forced to lay workers off, and eventually, to put themselves into liquidation.

It was the African Americans who were always first to lose their livelihood. For those people who were lucky enough to stay in work, the wages were abominably low. Depression pictures reveal that the average wage for a farm worker was $216 per year, whilst a doctor earned $3822.29.

The president at the beginning of the great depression was Herbert Hoover and as it can now be imagined, he was not a popular man, being considered by many for doing too little and not managing to avert the crisis.

The name of Hoover was taken and used for some results at the time, as settlements or shanty towns that sprang everywhere called “Hoovervilles, or the soup ” cocktail ” that starving people might make when they went to a restaurant, diverted the waitresses attention, made a soup of all that was left on the table top (tomato sauce, water, pepper, salt) and drink it, whilst her attention was still unfocused, a creation that has come to be well-known as “Hoover Soup.” A pathetic but true fact of great depression.