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1 the great depression 2006 2007-1
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1 the great depression 2006 2007-1


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  • Lesson plan for Friday, February 16 th , 2007: Warm-up Question, Hoover video, Great Depression notes
  • Stock market only had about 3 million active buyers & sellers but the spillover into the greater economy led to the Great Depression
  • Economic conditions in Europe, Agricultural decline since 1919, corporate mismanagement, excessive speculation all contributed to the GD as well
  • Boulder Dam was renamed Hoover Dam
  • Transcript

    • 1.
      • Essential Question:
        • What caused the Great Depression & how did the federal government respond?
      • Warm-Up Question :
        • What caused the Great Depression?
    • 2. The Great Depression
    • 3. The Great Depression
      • The Depression of the 1930s came as a shock to Americans:
        • The consumer revolution led to confidence that 1920s economic prosperity would continue
        • When the stock market crashed in 1929, businesses closed & millions were unemployed
        • Americans began to look to the gov’t for unprecedented support
    • 4. The Great Crash
      • Prelude to the stock market crash
        • In 1927, the economy had a recession but gov’t & business leaders ignored warning signs
        • The Federal Reserve hoped a lowered loan interest rate would stimulate the economy, but this easy credit led speculators to buy stock on-the-margin
    • 5. The Great Crash
      • On October 29, 1929 the stock market dropped & investors panicked by selling; led to a plummet in stock prices
      • Banks lent less money, factories produced less, workers were fired or paid less -> consumers had less money to spend -> factories & businesses closed
    • 6. Black Tuesday
    • 7. The Great Crash
      • Reasons for the depression:
        • US factories produced too many goods for people to consume
        • The post-war conditions in Europe decreased foreign trade
        • Unequal distribution of wealth, high consumer debt, stock market over speculation led to a an overall decrease in consumer purchase power
      Consumers already owned durable goods & were not buying more
    • 8.  
    • 9. Unemployment, 1929-1942 Downward spiral continued for 4 years; By 1932 unemployment was at 25%
    • 10. In 1929, the total market debt of the USA was 210% of the value of GDP By 1934, US debt rose to 265% of GDP In 2005, the value of US debt was 303% of GDP
    • 11. Effects of the Great Depression
      • The Depression hit all classes:
        • Many families lost their homes or farms & were forced to live in “Hoovervilles”
        • The US saw unprecedented poverty & suicide rates; fathers abandoned their families; lawlessness ensued
        • The US gov’t offered relief checks to the unemployed
    • 12. Effects of the Great Depression
      • African-Americans who had migrated to North were laid off
      • Mexican immigrants faced competition & deportation from angry Americans
      • The middle class was hit hard:
        • Refused relief checks & charity
        • Many lost their homes
        • Health care declined; doctor & dentist visits were “luxuries”
    • 13. Employment Agencies & Relief-Check Lines
    • 14. Soup Kitchens & Breadlines
    • 15. Mortgage Foreclosures
    • 16.  
    • 17. These 4 potatoes are Christmas Dinner
    • 18. Where’s daddy?
    • 19. “Hoovervilles” & “Hoover Flags”
    • 20. Hoover Struggles to Fight the Depression
    • 21. Hoover and Voluntarism
      • Hoover’s initial response to the Depression was reassurance that prosperity would return
      • Hoover rejected bold gov’t action & called for volunteerism among charities, local gov’t, & business
      • As the depression worsened, Hoover called for gov’t projects like the Reconstruction Finance Corps (RFC) which loaned money to failing businesses
    • 22.  
    • 23. Hoover and Voluntarism
      • In 1932, President Hoover suffered two final blows:
        • When 22,000 WWI veterans marched on Washington DC to demand immediate payment of their bonus checks, Hoover ordered this Bonus Army to be forcibly removed
        • Steady rise of bank failures led to a complete collapse of the US banking system
    • 24. Bonus Army Douglas MacArthur Dwight Eisenhower
    • 25. Bank Failures, 1929-1933
    • 26. Fighting the Depression
      • The inability of Republicans to resolve the economic depression opened the door for a Democratic takeover in politics
      • Once in power, Democrats succeeded in relieving some suffering but created an unprecedented level of gov’t intervention in the process