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The Great Depression

The Great Depression. Causes of the Crash. Overspeculation Buying on margin (10% down) Overproduction Catch - 22 Overextension of credit!!!!!! Installment buying Consumer debt Uneven distribution of wealth. Overproduction - Agricultural slump (declining demand for crops)

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The Great Depression

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  1. The Great Depression

  2. Causes of the Crash • Overspeculation • Buying on margin (10% down) • Overproduction • Catch - 22 • Overextension of credit!!!!!! • Installment buying • Consumer debt • Uneven distribution of wealth

  3. Overproduction - Agricultural slump (declining demand for crops) Farm surpluses Tax and tariff policies Overexpansion of credit Overspeculation in stock market Uneven distribution of wealth Technological unemployment Causes of the Great Depression

  4. Expansion (A speedup in the pace of economic activity) Peak (The upper turning of a business cycle) Contraction (A slowdown in the pace of economic activity) Trough (The lower turning point of a business cycle, where a contraction turns into an expansion)

  5. Stock Market CrashOctober 1929

  6. How many??

  7. They came from as far away as ________.

  8. Where did they stay?

  9. Congressional Action? House vote _________ Senate vote ________

  10. Results?

  11. Hawley-Smoot Tariff 1930 • Highest protective tariff ever • Retaliatory tariffs from foreign countries • US foreign trade suffered Depression deepened

  12. Hoovervilles

  13. Herbert Hoover 1929 – 1933 Republican “rugged individualism” Allow the economy to recover on it’s own indirect relief brilliant but with bad luck Franklin Delano Roosevelt 1931 – 1945 Democrat New Deal 3 R ’s direct relief “pump priming” Election of 1932

  14. 1932 Election What's the best way to fix the economy?

  15. Soup Kitchens paid for by "bad guy" Al Capone

  16. GM sit-down strike

  17. Civilian Conservation Corps

  18. National Youth Administration

  19. Works Administration Progress

  20. Public Works Administration

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