Great depression Essay

The consumer investment and consumption dramatically dropped leading to the declines in the employments and industrial output as the falling firms laid off workers 3. By the year 1933 most of the banks in the country had failed and the unemployment was a great problem with more than 15 million Americans being rendered jobless. Consequently, the United States economy had expanded rapidly through out 1920s with total wealth doubling. Most of people invested in the Stock exchange on the wall street in the city of New York 4. Wealthiest people invested heavily on the stock market, thus stock market was undergoing rapid expansion reaching climax around august 1923 5. The customer confidence had extinct in the stock market leading to the decline in investment and spending led to slow in production and leading to unemployment 9.