USH History Chapter Nine

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  • 1. The Great Depression. 1929-1941.
  • 2. Causes Of The Great Depression.
    • Herbert Hoover elected president in 1928.
    • He is the third Republican president in a row.
  • 3. Long Bull Market And A HUGE Bubble.
    • Stock mania and buying on “Margin” caused the price of stocks sky high.
    • What determines the price of a stock?
    • Supply and Demand. Period!
    • A sell off and Margin call caused the market to collapse.
    • The “emperor has no clothes!”
  • 4. CRASH! Oct. 29th-”Black Thursday.”
    • Speculation v. investing.
    • $30 billion lost. Equal to all the TOTAL wages Americans had earned in 1929.
  • 5. Investing Isn’t Saving
  • 6.  
  • 7. Causes of The Great Depression.
    • Overproduction.
    • Low wages.
    • High Tariffs.
    • Farmers going broke.
    • Uneven distribution of income.
    • Mistakes by Federal Reserve.
    • Stock Market bubble.
  • 8.  
  • 9.  
  • 10. Bank Failures.
    • Why were banks hit so hard by the Stock Market Crash?
    • They had invested their money in the stock market.
    • They had loaned money to investors for the stock market.
  • 11.  
  • 12. No F.D.I.C.
    • Bank runs were common.
  • 13. Depression Worsens.
    • 25 percent unemployment.
    • G.D.P. cut by 50 percent!
  • 14. Makeshift Villages.
    • Many families lost their homes.
    • They lived in shacks or tents on the edge of town.
    • These little communities were called “Shantytowns” or “Hoovervilles.”
    • Thousands of “Hobo’s” stole rides on the trains looking for work.
  • 15.  
  • 16. Environmental Disaster.
    • Dust Bowl adds to depression woes.
    • Bad farming techniques and drought cause much of the Midwestern and Great Plains states soil to blow away in the wind.
    • Huge ecological disaster cause thousands to move. Many came west to CA.
  • 17.  
  • 18. Escaping the Depression.
    • Hollywood Fantasy Factory.
    • Radio.
    • Monopoly Game played for hours.
    • Sports.
  • 19. Hoover Finally Responds.
    • Hoover felt, at first, that the market would correct itself in a short time.
    • “ Prosperity is just around the corner.”
    • Things only got worse.
    • Hoover did start some public works projects to create jobs.
    • This didn’t help much.
  • 20. Pumping Money Into The Economy.
    • Reconstruction Finance Corp. was created to help banks loan out more money.
    • Emergency Relief and Construction Act-1932.
    • Too little and too late. The economy had crashed hard.
  • 21. Mood of America BAD!
    • Hunger Marches.
    • Farmers revolt.
    • Bonus Marchers-Army.
    • Hoover called out the army on the Bonus marchers.
    • Most Americans thought this was pretty ruthless and unfair!
  • 22.