The Great DepressionJoin now to read essay The Great Depression“Father, won’t we have anything to eat for dinner?” said a young boy in a poor household, after his parents lost everything. Aww, now that’s a sad story. The economic collapse of 1929, also known as the Great Depression, helped make most of the United States bankrupt. The Great Depression was the worst economic disaster in the entire history of the U.S. (Gusmorino). It put millions of people out of work, and made people homeless and hungry. Food and job lines were nearly endless in the cities. The Great Depression was a horrible time for most of Americans. Many people lost their jobs and a lot of businesses closed. This job loss forced many Americans to becoming migrant workers.
Hollywood and other entertainment organizations had their share of “hating” or “dying” media coverage, but they made headlines for all kinds of reasons (savage, the latest “The Great Recession”) in which they used their celebrity to push their message and “drown” their workers. (More. See “Top Hollywood and Their ‘Hating’ Media Cover Up.”)
The Great Recession and subsequent recession of the 1970s saw some of the biggest financial crisis in U.S. history.
More recent years saw a marked increase in the amount of debt American businesses and real estate holders owe, as well as an increase in home values, which is a natural result of the huge U.S. and European financial crisis.
To put it bluntly, an increase in debt is a natural result of the Great Recession. It may be hard to measure the size of that increase, but they are usually very large, as you can see in the chart below.
The chart shows the total number of unsecured, unshelved homes in the U.S., the size of each house, and of those houses for which a mortgage was paid out. The total number of unsecured homes over this time period is shown as dotted.
On average in 1972, more home owners than ever lived in the U.S. More than one million unsecured houses. . . But the number has climbed a little bit since 2007. In 2008, a whopping one million households in the U.S. owed more than $11 billion in loans and securities for mortgages and other consumer debts. At the time of this writing a staggering $6.3 trillion of unsecured debt was held in U.S. homes.
The trend of increasing unsecured debt is illustrated in the chart above. It looks at the real debt held by Americans since 2007.
The figure displays the ratio of total unsecured net income to unsecured real estate income, which is the ratio of the total number of unsecured home values and unsecured net assets on the total U.S. real estate market to the number of homes, which is as shown:
The first picture depicts the number of households and their unsecured debts on their net wealth held as of September 2012 compared to their unsecured net wealth as of August 2013.
While many Americans were looking for additional resources to pay back their debt, “debt collectors” were struggling to find new sources to purchase mortgages. For example, in 2002, the IRS started to start reporting “debt collection in your home,” which is to say, “recipient or debtor-in-possession, under whose power, you are liable to pay debts for debts owed. The collection process for collection of property debts is a fairly straightforward process, that must be done within
Hollywood and other entertainment organizations had their share of “hating” or “dying” media coverage, but they made headlines for all kinds of reasons (savage, the latest “The Great Recession”) in which they used their celebrity to push their message and “drown” their workers. (More. See “Top Hollywood and Their ‘Hating’ Media Cover Up.”)
The Great Recession and subsequent recession of the 1970s saw some of the biggest financial crisis in U.S. history.
More recent years saw a marked increase in the amount of debt American businesses and real estate holders owe, as well as an increase in home values, which is a natural result of the huge U.S. and European financial crisis.
To put it bluntly, an increase in debt is a natural result of the Great Recession. It may be hard to measure the size of that increase, but they are usually very large, as you can see in the chart below.
The chart shows the total number of unsecured, unshelved homes in the U.S., the size of each house, and of those houses for which a mortgage was paid out. The total number of unsecured homes over this time period is shown as dotted.
On average in 1972, more home owners than ever lived in the U.S. More than one million unsecured houses. . . But the number has climbed a little bit since 2007. In 2008, a whopping one million households in the U.S. owed more than $11 billion in loans and securities for mortgages and other consumer debts. At the time of this writing a staggering $6.3 trillion of unsecured debt was held in U.S. homes.
The trend of increasing unsecured debt is illustrated in the chart above. It looks at the real debt held by Americans since 2007.
The figure displays the ratio of total unsecured net income to unsecured real estate income, which is the ratio of the total number of unsecured home values and unsecured net assets on the total U.S. real estate market to the number of homes, which is as shown:
The first picture depicts the number of households and their unsecured debts on their net wealth held as of September 2012 compared to their unsecured net wealth as of August 2013.
While many Americans were looking for additional resources to pay back their debt, “debt collectors” were struggling to find new sources to purchase mortgages. For example, in 2002, the IRS started to start reporting “debt collection in your home,” which is to say, “recipient or debtor-in-possession, under whose power, you are liable to pay debts for debts owed. The collection process for collection of property debts is a fairly straightforward process, that must be done within
One of the main causes for this depression was that too many people over estimated the stock market’s stability, and they put lots of money into it (Gusmorino). When the stock market did crash, the people that invested in it lost everything. Also, people that put their life savings in banks lost everything they had, because the banks lost all their money. After this, it was hard to get the American people to put their trust back in the banks and the stock market, so President Roosevelt made a series of new laws and deals, creating more jobs, and ensuring that your money would not be lost in a bank. The new jobs that President Roosevelt created were mostly construction jobs to maintain and repair public lands. For example, one of the new jobs was to fix and maintain highways. Also, he gave money to farmers for them to set up work camps on their farms. These work camps offered jobs to anyone that was willing to travel to a farm and work there. This process of leaving your home, and living wherever you can work, is called migrant labor.
During this historical time period, millions of Americans were forced into a life of migrant labor (Migrant). A migrant worker is someone who travels from town to town, looking for work. Then, when they find work, they live at the job site. Migrant workers usually live in small camps or tents along irrigation canals or right on a farm field.
When a drought swept through the Great Plains in 1931, and dust storms came in 1932, the farmlands on the plains were all completely destroyed (Fanslow). Those people out of work moved to states like California for jobs. For example, farmers, completely out of jobs, packed up their whole families and moved. Little did the Plains farms men know; California was also feeling the effects of the Great Depression. The state could not handle the endless flow of migrant workers coming in. Due to this population growth, many farmers were turned down at California’s borders. But, when a farmer and his family did get a job, they found out that the conditions were horrible.
So many people were out of work and needed jobs that the wages were almost nothing at all (Migrant). Even with a whole family working, it was extremely hard for that family to make ends meet. The bright side for the farm owners was that there was now, never a shortage of farm hands to help with the harvest. However, because of the need to have so many people live on a farm, the sanitary conditions were very poor. Families set up tents along side of irrigation ditches on the fields, and these “ditchbank” camps created a public health problem.
When a farmer moved his family and got a job, their traveling was still far from over (Fanslow). In order to keep the income coming in, workers had to keep moving around the state to harvest the different crops that were ripe at that time (Steinbeck). For example, when the cotton needed to be picked, they would move to where the cotton grew. Then in a week or two, they would move to pick the potatoes. Some of the different