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The depression continues
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The depression continues

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  • 1. The Depression Continues
  • 2. Wash, Rinse, Repeat  Because the Stock Market crashed, companies laid people off.  This made the surplus stock grow, because less Americans could buy companies’ items.  More people then went to the banks to withdraw all their money.  More layoffs
  • 3. Runs on the bank  When people ran to get to their money out of a bank, it was called a “run on the bank.”  Banks loan money out using the money put in.  When people took their money out suddenly, many banks had to close completely.
  • 4. Calling in the loan  At the same time, in an attempt to recoup the money they were losing, banks required people to pay ALL the money they were loaned or they would lose their house/car/etc.
  • 5. Continuing the Cycle  Unemployment and homelessness continued to increase, banks and businesses closed, and the economic depression in the U.S. then intensified the worldwide depression.
  • 6. A Change of Direction  Remember the Depression began in Europe.  Remember Europe owed America a great deal of money for loans during and after World War I.  Germany borrowed more money from the United States to pay back reperations.
  • 7. Taking these ideas global  Similar to how banks were treating American consumers, American banks and businesses that loaned Europe money began demanding their money back.  Many countries in Europe (Germany especially) suffered even more due to this.
  • 8. The Third World  Poor nations (Asia, Africa, and South America) are often called the Third World.  Countries in the Third World suffered because European and Americans stopped loaning and investing in them.
  • 9. Worldwide Depression  As these investments decreased, the economies in nations of these other continents began to suffer, and by the early 1930s the worldwide depression had begun.