March 31, 2014

2. March 31, 2014 No Bellringer Today Turn in Last Week’s Bellringers to the Bin!

3. Student Learning Map

4. Student Learning Map

5. Essential Question • What caused the most severe economic crisis in American history? • How did the federal government respond to the economic collapse that began in 1929?

6. Vocabulary • Black Tuesday • Stock Market Crash • Overproduction • Underconsumption

7. Tim & Moby!

8. Notes Crash & Depression

9. The Market Crashes • Market crash in Oct. 1929 happened quickly • Sept. 1929: Dow Jones Industrial Average reached an all time high • Dow Jones:Average of all stock prices of major industries • Oct. 23/24, 1929: Dow Jones plummeted, caused a panic

10. The Market Crashes • Black Tuesday (Oct. 29, 1929): most people sold their stocks, tremendous loss • Called the Great Crash, total losses = $30 billion

11. Great Crash Great Crash Great Crash Great Crash Great Crash World Payments World Payments World Payments World Payments Investors Investors Investors Investors Investors Businesses and Workers Businesses and Workers Businesses and Workers Businesses and Workers Overall U.S. production plummets. Overall U.S. production plummets. Overall U.S. production plummets. Overall U.S. production plummets. Investors lose millions. Investors lose millions. Investors lose millions. Investors lose millions. Investors lose millions. Banks Banks Banks Banks Businesses and workers cannot repay bank loans. Businesses and workers cannot repay bank loans. Businesses and workers cannot repay bank loans. Businesses and workers cannot repay bank loans. Consumer spending drops. Consumer spending drops. Consumer spending drops. Consumer spending drops. U.S. investors have little or no money to invest. U.S. investors have little or no money to invest. U.S. investors have little or no money to invest. U.S. investors have little or no money to invest. Allies cannot pay debts to United States. Allies cannot pay debts to United States. Allies cannot pay debts to United States. Allies cannot pay debts to United States. Businesses lose profits. Businesses lose profits. Businesses lose profits. Businesses lose profits. Businesses lose profits. Businesses cut investment and production Some fail. Businesses cut investment and production Some fail. Businesses cut investment and production. Some fail. Businesses cut investment and production Some fail. Savings accounts are wiped out. Savings accounts are wiped out. Savings accounts are wiped out. Savings accounts are wiped out. Banks run out of money and fail. Banks run out of money and fail. Banks run out of money and fail. Banks run out of money and fail. Workers are laid off. Workers are laid off. Workers are laid off. Workers are laid off. Europeans cannot afford American goods. Europeans cannot afford American goods. Europeans cannot afford American goods. Europeans cannot afford American goods. U.S. investments in Germany decline. U.S. investments in Germany decline. U.S. investments in Germany decline. U.S. investments in Germany decline. Bank runs occur. Bank runs occur. Bank runs occur. Bank runs occur. German war payments to Allies fall off. German war payments to Allies fall off. German war payments to Allies fall off. German war payments to Allies fall off. Effects of the Great Crash, 1929

12. The Great Depression • Economic contraction triggered the most severe downturn in US history • GD lasted from 1929 until 1941 • Stock market crash was not the onlycause of the GD

13. Causes of the Great Depression • Unstable Economy • Prosperous economy of the 1920s lacked a firm base • Nation’s wealth was unevenly distributed • Industry produced more goods than consumers wanted

14. Causes of the Great Depression • Overspeculation • Speculators bought stocks with borrowed money • Then pledged those stocks as collateral to buy more stocks • Stock market boom was based on borrowed money

15. Causes of the Great Depression • Government Policies • 1920s: Federal Reserve System cut interest rates to aid economic growth • 1929: Limited the money supply to discourage lending • Caused there to be too little money in circulation to help the economy after the stock market crash

16. Reading Notes 30

17. Cinderella Man

18. Bellringer --- You Don’t Have to Write It!March 26, 2013 Think about it… What behaviors of the 1920s lead to the Great Depression? Grab your book.

19. Student Learning Map

20. Student Learning Map

21. Essential Question How did the federal government respond to the economic collapse that began in 1929?

22. America: The Story of UsBUST

23. Reading Notes 31

24. Bellringer April 1, 2014 How do you think the Great Depression affected the American public? No Book Today! 

25. Student Learning Map

26. Student Learning Map

27. Essential Question How did ordinary Americans endure the hardships of the Great Depression?

28. Vocabulary • Hoovervilles • Dust Bowl • Breadline • Soup Kitchen

29. Vocabulary • Black Tuesday: October 29, 1929, the worst day of plunging stock market prices during the stock market crash that helped initiate the Great Depression • Stock Market Crash: in October 1929, the period of plunging stock market prices that helped initiate the Great Depression • Overproduction: a situation in which more good are being produced than people can afford to buy • Underconsumption: a situation in which people are purchasing fewer goods than the economy is producing

30. Vocabulary • Hoovervilles: during the Great Depression, a shantytown of makeshift dwellings • Breadlines: a line of needy people waiting for handouts of free food • Soup Kitchens: a place that serves free meals to the needy • Dust Bowl: an area of the Great Plains of the United States that suffered severely from wind erosion during the 1930s

31. Social Effects of the Great Depression

32. Poverty Spreads • All levels of society faced hardships during the Great Depression. • Unemployed laborers, unable to pay their rent, became homeless. • Sometimes the homeless built shacks of tar paper or scrap material. • Hoovervilles:shanty town settlements named for President Hoover

35. Dust Bowl • Farm families suffered from low crop prices. • Dust storms ravaged the central/southern Great Plains region

36. Dust Bowl • Result of drought and farming practices that removed the protective prairie grasses • Area was stripped of its natural soil • Reduced to dust • Became known as the Dust Bowl • Combination of the terrible weather and low prices caused about 60% of Dust Bowl families to lose their farms.

39. Poverty Strains Society • Some people starved and thousands went hungry. • Children suffered long-term effects from poor diet and inadequate medical care. Impact on Health • Living conditions declined as families crowded into small houses or apartments. • Men felt like failures because they couldn’t provide for their families. • Working women were accused of taking jobs away from men. Stresses on Families • Competition for jobs produced a rise in hostilities against African Americans, Hispanics, and Asian Americans. • Lynchings increased. • Aid programs discriminated against African Americans. Discrimination Increases

42. Cinderella Man

43. Cinderella ManCharacters to Watch Joe Gould Jimmy Braddock Mae Braddock

44. FYI: This is why we don’t eat in Ms. Murray’s class!