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THE GREAT DEPRESSION OF THE 1930’S

THE GREAT DEPRESSION OF THE 1930’S. “ Brother can you spare a dime?”. Credit. Consumer loans Houses Cars Clothing. Stocks. Ownership in a company Company makes money – stock prices go up Buy low – sell high. Buying on Margin. Borrow money to buy stocks. Stock prices go up

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THE GREAT DEPRESSION OF THE 1930’S

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  1. THE GREAT DEPRESSION OF THE 1930’S “Brother can you spare a dime?”

  2. Credit • Consumer loans • Houses • Cars • Clothing

  3. Stocks • Ownership in a company • Company makes money – stock prices go up • Buy low – sell high

  4. Buying on Margin • Borrow money to buy stocks. • Stock prices go up • Sell stocks – make profit • Pay off loan

  5. STOCK MARKET CRASH 1929 • “Black Thursday”, October 24, 1929 • “Black Tuesday”, October 29, 1929

  6. Effects of the Depression • Factories and mines close • Banks are worthless • Consumer buying stops • Competition for jobs causes racial tensions

  7. 1932 • 14 million Americans are jobless (almost 1/3 the workforce) • Banks foreclose on houses and farms • No food, no clothes, no jobs

  8. Colorado Kansas Oklahoma New Mexico Texas Cropland destroyed Respiratory health Unsanitary living Rampant crime Debt-ridden families THE DUST BOWL

  9. DUST BOWL ORPHANS • Mass exodus to California • Migrant workers

  10. The New Deal • Franklin D. Roosevelt elected 1932 • New Deal • Create jobs • Stimulate the economy

  11. The New Deal’s Critics • Women & Minorities • Progressives & Socialists – wanted more • Republicans • Government getting too big • FDR like a dictator • New Deal = socialism

  12. Results of the New Deal • Helped a LITTLE for SHORT time • Recession • National Debt • Helped some artists • Public works

  13. Cultural Life • Literature • John Steinbeck • Radio • Comedies & Soap Operas • Movies • 25 cents for a double feature • Wizard of Oz • Disney movies

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