The the largest stock market in the world

The Great Depression is the period of the economic collapse in the 1930s, which started after the great stock market crash of October 1929. Also known as “Black Tuesday” This caused every state in the Union to flounder, the obvious effect of something as wide-reaching as the largest stock market in the world culminating in a fever pitch and hitting zero on most accounts. Its paradox is that the nation’s total wealth caused by the biggest national downturn in American history, that led to the decline of the national income by 50 percent. modern business and agriculture, the automobile, radio, and hundreds of other connections had tied the state so close to the rest of the nation that there could be no escaping the universal economic collapse. Industries produced more than people could buy; low wages and excess of goods are reasons of it. The Great Depression affected California in many ways, including massive unemployment and poverty, cessation of urban construction, increase in race discrimination, business failure.The impact of the depression was felt in agricultural revenues; according to the book $750 million in 1929, fell to $327 million in 1932, By 1932 many farmers lost their lands because they couldn’t afford to harvest their crops; in addition, lands were ruined by drought and dust storms. Furthermore, the industrial businesses closed; oil companies lost a lot of money because it produced much more oil that it could sell. consumers didn’t have enough money to feed themselves let alone buy cars and drive around. These factors caused by unemployment and poverty. Southern California – with an unusually high percentage of the workforce in service occupations, a large number of lower-middle-class white-collar workers, and the highest proportion of elderly people in the nation – was devastated. the unemployment rate in San Francisco “approached 25 percent in 1932 after migration, in California, they met the problems of unemployment. In San Francisco, home of the state’s largest corporations, the unemployment rate approached 25 percent in 1932 and remained there for several years. Moreover, unemployment led to additional causes of discrimination for workers of color. For instance, low and middle class of white workers complained that immigrants were taking jobs away that was needed for American citizens. Each class of the society was devastated: Transient and homeless men and women were a major problem-a far more serious one, a 1931 Census Bureau report noted that in eastern states. In order to feed their families, people had to sell some their stuff on the streets.An important characteristic, people who suffered from the Great Depression did not get much aid from the government: President Hoover believed that government is not responsible for providing economic relief for U.S citizens. In 1932 Franklin D. Roosevelt won the presidential election, who provided economic reforms, The New Deal, that helped thousands of people. what also came out of this was massive public works programs. For all the terrible things that came from the Great Depression, the Golden Gate Bridge was one thing that spurred an uptick in the economy.