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The Great Depression

The Great Depression

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The Great Depression

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Presentation Transcript

  1. The Great Depression Fast Five: What do you know about the Great Depression?

  2. Causes of the Great Depression • Income Inequality • Stock market crash • Debt (Installment buying)

  3. Income Inequality • In 1929 21% of families made under $1,000 • 21% made $1,000 - $5,000 • 2.3% made over $10,000 • 40% of people live below the poverty level

  4. Stock Market Crash • Stock Market Crashed on “Black Tuesday, October 29, 1929 • Many people lost all of their money • People were buying stock on “margin” • 10% cash, 90% financed • Stock value went down sharply

  5. Debt • During the 1920’s people purchased many, many things on credit. Pay part now, make payments later. • People could no longer afford to make the payments and ended up in debt • This was particularly hard on farmers