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BOOM - BUST - WHAT??

BOOM - BUST - WHAT??. Roaring Twenties Great Depression Hoover's Plan/Roosevelt's Plan. Boom. Roaring Twenties Materialism Spending Prosperous. Bust. Great Depression Stock Market Crash Banks Fail – Fed took no action Foreclosures High Unemployment.

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BOOM - BUST - WHAT??

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  1. BOOM - BUST - WHAT?? Roaring Twenties Great Depression Hoover's Plan/Roosevelt's Plan

  2. Boom • Roaring Twenties • Materialism • Spending • Prosperous

  3. Bust • Great Depression • Stock Market Crash • Banks Fail – Fed took no action • Foreclosures • High Unemployment

  4. Trickle Down vs. Pump Priming “IT’S ON!!!”

  5. Hoover vs. FDR Two approaches to the Great Depression.

  6. Herbert Hoover • Conservative approach. • Rugged Individualism. • Believes in the Business Cycle. • Philanthropist – charity work for those who need it.

  7. Business Cycle Prosperity Prosperity Recession Recovery Trough

  8. Hoover – Trickle Down • Give-A-Job campaign • Limitedgovernment hand-outs • Limited public works programs • R.F.C. - Reconstruction Finance Corporation - Provided $2 Billion in aid to Banks, Insurance Companies Railroads, and other Big Businesses

  9. Trickle Down Theory R.F.C. – $2 Billion Businesses Jobs People Spend Money Recovery

  10. Roosevelt – New Deal • FDR’s Plan to provide relief to Americans. • The Brain Trust helps FDR develop the Alphabet Soup programs.

  11. Keynesian Economics • Government must be involved in economy to keep it safe. • To get out of Economic Depression, a government must spend money. • Deficit Spending is needed. John M. Keynes British Economist

  12. “Pump Priming” Recovery Business Expands People Spend Money $ $ $ Work Relief & Direct Relief Programs

  13. What do we have today? Does this work?

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