Did People Jump out of Windows? I can’t take it!
From Crash to Depression <ul><li>The Crash of the stock market triggered a much larger crisis called the Great Depression . </li></ul><ul><ul><li>A severe economic decline that lasted from 1929 until the U.S. entry into WWII. </li></ul></ul>
Domino Effect <ul><li>When the Stock Market crash began in 1929, its effects spread through many areas of society. </li></ul><ul><li>Factory workers, farmers, banks and citizens around the world were affected by the crash. </li></ul>
*Domino Effect on Workers/Farmers* <ul><li>As profits and incomes of businesses fell, workers were laid off by the thousands. (cost cutting) </li></ul>
Domino Effect on Banks <ul><li>Unfortunately, Americans were using borrowed money, from banks, to play the stock market and lost millions. </li></ul><ul><li>Nervous Americans rushed to banks to withdraw savings account money that was no longer at the bank. </li></ul><ul><li>Banks that could not return people’s deposits simply closed their doors and people’s savings were as good as gone. </li></ul>
Domino Effect on the World <ul><li>When the global leader’s banking and investment system fell, the world felt the shock. </li></ul><ul><li>Europeans who were paying back loans to the U.S. no longer could because Americans could not buy or consume European goods. </li></ul>
The Bottom Suffers the Most <ul><li>Those at the bottom of the social ladder suffered the most from the Depression. </li></ul><ul><li>Those who were unemployed usually lost homes as well as jobs. </li></ul>
The Bottom Suffers the Most <ul><li>The homeless of the big cities carved out existences in make-shift towns called Hoovervilles . </li></ul><ul><li>Make-shift shelter towns built by the homeless of the depression. </li></ul>
*Poverty Strained our Society* <ul><li>“ All last winter we never had a fire except about once a day when mother cooked mush or something. When the kids got cold we went to bed. I quit high school of course”. </li></ul>
Hope is on the Way <ul><li>The election of Franklin Roosevelt in 1932 is going to spark a sense of hope. </li></ul><ul><li>FDR’s programs to help the Depression work, but it will take WWII to pull us completely out. </li></ul>
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