Due to the fall in the stock market, there has been a decrease in consumer spending and investments. This was caused by a steep decline in industrial production and a rise in unemployment due to failed companies that fired their workers. After the fall in the first 10 months of 1930, 744 banks collapsed - 10 times more. In all, 9,000 banks collapsed during the decade of the 1930s. It is estimated that 4,000 banks failed only during one year in 1933. Until 1933, depositors lost $ 140 billion due to the failure of banks. This is too simplified to find out the decline in stock trading as a unique cause of the Great Depression. However, in 1932, when the country collapsed in the depths of the Great Depression and about 15 million people (more than 20% of the American population at that time) was unemployed.
His points covered three main things, self determination of colonies l, freedom of the seas and the League of Nations. His points failed because France and Britain wanted revenge against Germany so his points were turned down. The only point that made it was the 14th (the League of Nations). But this would eventually fall apart because US congress didn’t want America to be involved in foreign affairs so they didn’t join. Since America was the only super power coming out of the war and didn’t join the league the other countries couldn’t agree on anything.
