100,000 businesses failed. Stock values fell from $89 billion to $15 billion. From 381 to 41. $74 billion was lost. 25% unemployment rate [15 million](125 million in the U.S.) [Unemployment was 3% in 1929.] Unemployment stayed above 14.3% from 1931-1940. Average unemployment was 18% 10,797 banks failed out of over 25,000, taking the life savings of 9 million people. The Great Depression [How Bad Was It?]
In some cities, girls danced only for 10 cents . 333,000 could not go to school. M any schools were open only three days a week for eight months. One million lost their homes. Housing starts dropped 90%. GDP dropped from $104 billion in 1929 to $56 billion in 1933. “ That will be .10”. “ Don’t thank me. Thank God someone asked you to dance. “ I didn’t say, ‘Would you like to dance,’ I said, you look fat in those pants.” The Great Depression
The Great Depression was so bad that when Bonnie and Clyde were shot, [Clyde’s body had 187 bullet holes and Bonnie’s body had 52 bullet holes] that morticians complained that they couldn’t hold embalming fluid.
Their “death hats” were auctioned for $32,000. Clyde’s “death shirt” auctioned for $85,000 “ Death car” w. 160 bullet holes auctioned for $250,000. 1967 “Movie Death car” Many of the bullets went thru the car door, Clyde’s body, Bonnie’s body, then out the other side of the death car. T he “32 Ford” & “ 57 C hevy” are the cornerstone cars of the hot-rod business. And – the Chrysler 300
Apple sellers could make $1.15 profit on 72 sold apples. Many factory wages went from .55 an hour to .05 an hour. Agriculture collapsed. Prices and wages dropped around 25%. Factory production dropped 50%. Auto production fell from 4.5 million cars in 1929 to 1.1 million in 1933. Those who checked into hotels were asked, “ For sleeping or jumping”? The Great Depression [continued]
Dust buried cars and wagons in South Dakota in 1936
HARDEST HIT REGIONS <ul><li>Kansas, Oklahoma, Texas, New Mexico, and Colorado were the hardest hit regions during the Dust Bowl </li></ul><ul><li>Many farmers migrated to California and other Pacific Coast states </li></ul>Boy covers his mouth to avoid dust, 1935
Photographer Dorothea Lange captures a family headed west to escape the dust storms