The Great Depression - The Great Depression The Great Depression Black Tuesday Causes of the Great Depression Lack of diversification so much of our

The Great Depression - The Great Depression The Great...

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The Great Depression
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The Great Depression Black Tuesday – October 29, 1929 Causes of the Great Depression - Lack of diversification – so much of our productions are cars, refrideraters ect. Too much being produced. Chevy destroys used cars. 1927 model t ends. Henry ford cuts jobs because he stops producing. - Consumer debt double in 1920-1930 because people buy cars on credit. - Weak middle class - Reckless investments/loans - European financial problems - The Dawes Plan (1924) - dawes steps in to loan germany 200 million so they can pay england and france to then pay us. - Trade decline
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The Great Depression (cont’d) Results of the Great Depression - Banks failed- 9000 went bankrupt or closed to avoid bankruptcy. Effects Europe. - Gross National Product & Gross Domestic Product Decline - Unemployment- around 20% for entire decade - Underemployment- 1/3 of remaining workers were underemployed. - Agriculture failures- 1/3 of all farm shut down. - Migrant farmers-The move to California.
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