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  • Essay / Poverty in the United States - 641

    In the 1920s, the United States economy was growing steadily. Unfortunately, poverty is now widespread among farmers and immigrants. Until now, the United States has made many attempts to help provide care and relief to those living in such poverty, but despite all its efforts, our country is still experiencing this depression. Many farmers have fallen into debt and are unable to repay it. Many farmers have abandoned their farms and significant migration from rural land to urban areas is now occurring across the country. Looking back over the past decade, the economy was booming until the incident. Despite this slight depression, some positive things also came out of it. As more and more people begin to migrate to cities due to drought, debt, and other reasons, the people who live in these cities begin to experience "increased prosperity." People who choose to stay in these rural areas, however, are beginning to prohibit, along with other farms, from incorporating their farms. The farmers' new strategy seems to be working because it increases their chances of making better sales and decreases their chances of going bankrupt. Since the end of the war, items that would normally have been reserved for the wealthy are now available to farmers. the “not so rich”. These items, including automobiles, washing machines, radios, furniture and all manner of products for the less fortunate, can now be purchased at a higher payment to buyers. This new way of selling is called installment sales. Installment selling, or partial payment, is very popular among today's middle class and has earned millions of dollars for manufacturers. With these n...... middle of paper ......the stock market until September 3, when the market began to decline. At first, no one really noticed, but two days later, on Black Thursday, stock prices fell. At first everyone panicked, but then most people took their money out of the market and saved most of their money. Those who bought on margin were not so lucky. What appeared to be a recovery, most people were buying stocks 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 its lowest, businesses were ruined, banks destroyed and much more damage had an impact on the population. Hopefully people will find a way to get the stock market back on its feet. Who knows how long this depression will last. Works Cited Brinkley, Alan. American History. Hill McGraw.