Lect. 7-1 - The Great Depression What were the causes and...

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The Great Depression What were the causes and consequences of the Great Depression? Discuss the ways in which it affected the lives of American citizens. 1. Coming of the Great Depression a. The Bull Market – “Bubble” b. The Great Crash i. Did not, by itself, “cause” the depression; it was the “trigger” that was pulled c. Black Tuesday – October 29, 1929 d. 2. Causes of the Great Depression a. Lack of Diversification – Only really the automobile and construction were the economies (where investment was put) b. i. Too many things, not enough ppl to buy ‘em c. Credit Structure i. People were “over-extended” in credit; had too much outstanding credit d. International Trade and Debt Structure e. Poor State of Economic Intelligence 3. Progress of the Great Depression a. Stock Market Crash b. Crash of Banking System c. Contraction of Money Supply i. Money supply falls by about 50% d. Economic collapse i. GNP 1929 - $104 billion; 1932 $76.4 billion ii. 1932 – 25 % unemployment (extremely high)
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4. Hard Times – Searching for Work
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Lect. 7-1 - The Great Depression What were the causes and...

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