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The Great depression

The Great depression. 1929-1941. Depression Begins, The Roaring Twenties have gone Silent. 1929-1941 (WWII) Worst economic crisis in history Citizens were: -unemployed - Hungry (bread lines) -Homeless. Problems in Business and Farmers. Businesses had overproduction of goods

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The Great depression

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  1. The Great depression 1929-1941

  2. Depression Begins, The Roaring Twenties have gone Silent • 1929-1941 (WWII) • Worst economic crisis in history • Citizens were: • -unemployed • -Hungry (bread lines) • -Homeless

  3. Problems in Business and Farmers • Businesses had overproduction of goods • -No one could purchase them • -Unable to pay salaries • Farmers had crops they could not sell • -caused lower prices

  4. Illusion of Wealth • Americans had small income and little to no savings. • Many still bought goods on credit

  5. Stock Market • Americans rushed to buy stocks • -risked bankruptcy • Investors borrowed money to buy on speculation • -quick profit • -Unable to pay it back

  6. Stock Market Crash • 2 month period in 1929 • -fortune to worthless • Black Tuesday • -Stocks fell more than 75% • -Lost savings in less than 2 hours • Bank closures, no money

  7. Herbert Hoover, Bonus Army, and Dust Bowl • Americans blamed Hoover • -”Do Nothing” President • WWI vets promised a bonus for service • -Hooverville’s • Drought in Midwest causes farms to dry up • -wind carried dust (dark into night)

  8. Review • When did the Depression take place? • Name an example of the suffering Americans went through. • People bought things with _________ rather than cash. • Veterans who were promised bonus were called the ______ _______. • How would investors try to make a quick profit? • What happened on “Black Tuesday”? • The drought throughout the Midwest was known as what?

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