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Great depression

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  • Transcript

    • 1. The Causes of the Great DepressionWhat caused the most severe economic crisis in American History?
    • 2. Speculative Boom Leads to a Spectacular Crash• bull market• buying on margin • encouraged speculation• 10/29/1929, Black Tuesday• bear market
    • 3. Banking Crisis• banks lend $ to earn interest • stockbrokers• bank runs • depositors withdraw cash • 1933, 1/5 banks failed 9,000 in the 1930s • 9 million lose life savings •
    • 4. “It’s a wonderful life” Bank Run
    • 5. Too Much for Sale, Too Little To Spend• overproduction • underconsumption • more products are • people were not being created than buying as much as people can afford the economy was to buy producing • widening wealth • farms gap • industry, • 1921-1929, personal production debt doubled declined, unemployment
    • 6. initial Government Actions• Federal Reserve System, manages nation’s $ supply• increased the discount rate • $ supply dropped 1/3• Hawley-Smoot Tariff Act • high tariff that hurt foreign sales
    • 7. Response tothe Economic Collapse How did the federalgovernment respond tothe economic collapse that began in 1929?
    • 8. Ideological Responses• Conservative • status quo, business cycle• Liberal • public works, social welfare• Radical “Civilization” • socialism, communism
    • 9. Hoover’s Conservative Response• Hoovervilles • homeless “cities”• Reconstruction Finance Corporation • gov. loans to banks, RRs, and big businesses • trickle down theory
    • 10. Hoover Battles the Bonus Army
    • 11. Hoover Battles the Bonus Army
    • 12. Election of 1932 Franklin Delano Roosevelt (FDR) promised, “a new deal for the American people.”
    • 13. FDR’s First Hundred DaysFDR took office in 1933.Congress enacted many programs to provide relief, promote recovery, and enact reforms.
    • 14. The Human Impact How did ordinaryof the Great Americans endure the hardships of the GreatDepression Depression?
    • 15. Brother, can you spare a dime?1. How does the tempo makeyou feel?2. What did the singer dobefore the great depression?Now?3. How does the photo reflectwhat you hear and feel whilelistening?4. In what ways do you thinkpeople endured the hardshipsof the great Depression?
    • 16. Brother, can you spare a dime?1. How does the tempo makeyou feel?2. What did the singer dobefore the great depression?Now?3. How does the photo reflectwhat you hear and feel whilelistening?4. In what ways do you thinkpeople endured the hardshipsof the great Depression?
    • 17. A Country in Economic Disaster• 1933-25% unemployment• African American, 50% unemployment• women couldn’t work if husband earned a “living wage”• property values decreased, foreclosure increased• psychological stress • marriage, divorce, and birth rates declined
    • 18. “Ill-Housed, Ill-Clad, Ill-Nourished”• evictions forced people out of homes• men deserted families, teenagers left home• malnutrition • soup kitchens • breadlines
    • 19. The Dust Bowl• desertification • drought, overproduction of crops, high winds• The Grapes of Wrath by John Steinbeck • depopulation • “Okies” migrated to CA for farm work
    • 20. The Dust Bowl• desertification • drought, overproduction of crops, high winds• The Grapes of Wrath by John Steinbeck • depopulation • “Okies” migrated to CA for farm work

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