Underlying Problems In The Usa 1927 1928

Slide 1:Underlying problems in the USA 1927-1928 Could the events of 1929 have been avoided by warning signs of 1927/1928?

Slide 2: America goes bust • Thursday, 24th October, 1929, share prices on New York stock exchange fell faster and lower than ever before. • By the end of the day $4 billion had been wiped off the value of the shares, 12 million shares had changed hand, and it took until 5am the next day to clear all of the transactions. • This began the collapse of the New York stock market, known as the Wall Street

Slide 3: What were the underlying weaknesses of the US economy? 1. Unequal distribution of wealth • 60% of US families had an income of less than $2000 p.a, the minimum thought necessary for survival. • The top 5% of Americans owned 1/3rd of the total personal income. • High profits gained from mass production had been paid to inves