The Great Depression And Its Effects - 2007 Words

â€Å"My parents survived the Great Depression and brought me up to live within my means, save some for tomorrow, share and don t be greedy, work hard for the necessities in life knowing that money does not make you better or more important than anyone else. So, extravagance has been bred out of my DNA.† This quote from a child who was born and raised during the Great Depression is telling us something that used to be true to nearly everybody and is not as true as it should be today. This is an idea in which the majority of the families who survived the Great Depression lived by, and some still live by today. The Great Depression had a dramatic effect on many, and it affected almost every demographic not just the poor or the rich, and it†¦show more content†¦However, towards the later end of the 1920s many began to lose money, and most could not afford the abundance of food they used to rely on because of this farmers suffered a huge blow (Barrons). Once people s topped buying the farmer’s crops the farmers had no way to keep up with their living expenses or their taxes. As a result, many famers became angry, and they developed unions and strikes to protest. One result of the strikes was a milk strike which was when farmers did not allow for their milk to be transported to the cities which in return affected both, the farmers and the cities (US Market Crash). Another cause would be the issue with installment buying. Installment buying is the buying of goods or products on credit which allows you to pay very little upfront and pay the rest off over a period of installments, or broken down payments generally in thirty-six or forty-eight month periods. Americans began to buys every day goods on credit, such as, refrigerators, cars, and vacuums. This eventually became a huge problem. Because so many people used installment buying many of the other goods being produced could not be bought. This was because the American people were paying off their previous purchases, and they had no money left to buy new goods being produced. This also created a huge problem in the world of industry. Industry majorly expanded during the 1920s, however, once the American