Topic > Poverty in the United States - 641

In the 1920s, the United States economy was experiencing steady growth. Unfortunately, poverty is very common today among farmers and immigrants. The United States has made many attempts thus far to help provide assistance and relief to those living in such poverty, but despite their best efforts our country is still going through this Depression. Many farmers have fallen into debt and are unable to repay it. Many farmers have abandoned their farms and a large migration from rural lands to urban areas is occurring across the country. Looking back over the last ten years, the economy was recovering until the crash. Despite this little depression, some good came from this too. As more and more people begin to move to cities due to drought, debt, and other reasons, people living in these cities begin to benefit from “increased prosperity.” People who choose to stay in these rural areas, however, are starting to ban them, along with other farms, from incorporating their farms. The farmers' new strategy appears to be working because it increases their opportunities to improve sales and decreases their chances of going out of business. Since the war ended, items that would normally only be available to the rich are now available to the “not so rich.” Such items include cars, washing machines, radios, furniture and all kinds of necessities for the less fortunate, which can now be purchased with a higher payment by buyers. This new way of selling is called installment sales. Installment sales, or partial payment, is very popular among today's middle class and has earned manufacturers millions of dollars. With these n......middle of paper......the stock market until September 3rd, when the market began to decline. At first no one noticed, but two days later, on Black Thursday, stock prices plummeted. At first everyone panicked, but then most people withdrew their money from the market and saved most of their money. Those who bought the margins were not so lucky. What looked like a recovery, most people were buying shares again by the end of the day, but the market would crash again 4 days later. The crash of 1929 would send the United States into a long depression. The economy was at an all-time low, businesses were ruined, banks were destroyed, and many other harms were impacting people. Hopefully people will find a way to get the stock market back up and running. Who knows how long this depression will last. Works Cited Brinkley, Alan. American history. McGraw Hill.