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We are closer to the end of poverty than at any point in our history

We are closer to the end of poverty than at any point in our history. The Great Depression 1929-1945. Spark- Crash of The Stock Market- 10/29/29 Underlying Causes- Mass Production- too many goods produced, not enough demand

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We are closer to the end of poverty than at any point in our history

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  1. We are closer to the end of poverty than at any point in our history

  2. The Great Depression1929-1945 • Spark-Crash of The Stock Market-10/29/29 • Underlying Causes- • Mass Production-too many goods produced, not enough demand • Credit-too many goods bought that people could not afford, including stocks, On Margin • Investing-inexperienced people put too much of their $$ in the Stock Market-risky

  3. Wall Street

  4. Bull vs. Bear Market Market and Economy doing well Market and Economy doing poorly

  5. Bank Runs

  6. Okies

  7. Riding The Rails

  8. Hoovervilles

  9. Hoover Blankets

  10. Buy American • Hoover signs the Hawley-Smoot Tariff • Increasing Tariffs-Americans buy less foreign goods • Foreign nations now had less $$ to pay back war debt to US.

  11. Rugged Individualism

  12. Hoover Dam 1931-1936 *Public Works

  13. Bonus Army

  14. A New Deal1933-1945

  15. The New Deal in Action - The 3 R’s • Relief-Immediate help-$$ to the people • Recovery-temporary jobs • Reform-permanent programs- Soc. Sec. FDIC • These programs would be paid by: *Deficit Spending-Government Spends more than it takes in • FDR was seen as taking action! *People had a renewed confidence in government

  16. FDR Gets To Work Right Away • Declares a Bank Holiday, Closing ALL Banks for 4 Days • Why? • To Get $$$ to the banks!!

  17. Alphabet Soup • AAA, CCC, FDIC, SEC,SSA, PWA,TVA,WPA, • Nickname given to all these programs

  18. CCC – Gave public works jobs to young men FERA – Gave $ relief directly to unemployed AAA – Paid farmers NOT to grow certain crops PWA – built ports, schools, aircraft carriers FDIC – Insures deposits made to federal certified banks WPA– Employed people to bulid hospitals, schools, parks, airports Social Security Act – Insurance for elderly, unemployed, and disabled New Government Beauracricies are set up to assist people in need

  19. FDR and The New Deal Help Labor • Wagner Act- allowed workers to BARGAIN COLLECTIVELY for what they wanted. (Unions hire representatives to bargain a contract for all members) • Fair Labor Standards Act- • Created Minimum Wage, Maximum Hours. • .25 cents/44 hours a week originally. • Currently $7.25/40 hours a week

  20. Minimum WagesGreen-higher, Blue-same, Yellow-None, Maroon-Lower

  21. Court Packing

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