The Great Depression In The 1920's

The Great Depression was an example of how America’s greediness can get be its greatest downfall. There were many factors that led to The Great Depression. The effects of The Great Depression led to many things, some that can still be seen today. President Roosevelt helped the American people sift the depression with his leadership. The Great Depression has had a lasting effect on America and had influence in decisions later in history and also showed the extent of power a president could have through a time crisis.
Many factors caused The Great Depression. During the 1920’s America’s economy was in full swing and it was extremely unusual to not have some money invested in the stock market because people could become millionaires effectively over night. This was actually a blessing and a curse , because there was no physical money to back up what people had in their bank accounts, it was all basically credit. The federal reserve had no money to back up the economy. It was inevitable for the stock market to crash because of the sharp imbalance between supply and demand. Durable goods such as vacuums and cars obviously didn’t get all their uses out in one month. They last for decades
When FDR was put into office he created something to combat the depression call the “New Deal”. The New Deal led to the creation of many government agencies such as the Tennessee Valley Association which created dams and inexpensive hydroelectric power sources for the people in that area. Today it is still one of the most successful effects of the deal because it attracted many businesses which turned a bleak farm land into boom towns. During the depression FDR also enacted the National Labor Relations act which set minimum wage and also maximum hours to prevent the desperate Americans from being basically enslaved to their work hours by their bosses. It also set in child labor laws to make it so the minimum working age was