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Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
Depression Causes­ Dr Tech Class
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Depression Causes­ Dr Tech Class

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Causes of the Great Depression with opening viedo

Causes of the Great Depression with opening viedo

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  • 1.  
  • 2. The Roaring 20’s
    • Fun times reigned
      • Dancing
      • Flappers
      • Drinking
    • The new concept of “credit”
    • People were buying:
      • Automobiles
      • Appliances
      • Clothes
  • 3. The 1920’s “Roared”! But… the economy grew “sick”
    • Many industries start to suffer
    • Farmers get hit the worst with the economic slow down
    • People buy more on credit and build up debt
    • Income becomes very unbalanced
    • The stock market soars as people speculate and buy on margin
  • 4. Farms and factories overproduced beyond the demand. Overproduction / Reduction in Purchasing People had little or no money to spend. Demand for goods fell. Businesses cut production Workers suffered from wage cuts and lay offs.
  • 5. A farm is being sold at a foreclosure sale in Iowa. Military police were on hand to keep farmers from disrupting the auction. ca. 1935.
  • 6. What’s wrong with buying on credit???
    • Credit system
      • People didn’t really have the money they were spending
    • WWI
      • The U.S. was a major credit loaner to other nations in need
      • Many of these nations could not pay us back
  • 7. The Stock Market
    • People bought stocks on margins
      • If a stock is $100 you can pay $10 now and the rest later when the stock rose
    • Stocks fall
      • Now the person has less than $100 and no money to pay back
  • 8. Stock Market Crash
    • On Tuesday, October 29, 1929, stock prices plummeted.
    • This became known as Black Tuesday.
  • 9.  
  • 10.  
  • 11.
    • People that bought stocks on margin (credit) could not repay their debts.
    The Philanthropist by, Herb Block (Dec. 5, 1930) During the Great Depression approximately 25% of the workforce was unemployed. People who lost their jobs began selling five-cent apples on the streets of American cities, providing a symbol of the economic hardships of the era.
    • People that had invested their savings in stocks had little or nothing left.
  • 12.  
  • 13. Bank Failures
    • When the stock market crashed, people could not repay their loans to the bank.
    • Banks were involved in stock speculation and lost billions.
    • Therefore, banks couldn’t give depositors their money and banks closed.
    • Many people lost their life savings.

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