Depression

Depression - DEPRESSION AMERICA: THE SHOCK OF POVERTY Stock...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
DEPRESSION AMERICA: THE SHOCK OF POVERTY Stock Market crash 1929 Unemployment Fall in GNP Bank failures Herbert Hoover Hooverville FDR (Franklin Delano Roosevelt) New Deal Extra Points: 1920s prosperous, carefree, modern. Stock market went up, people began to go to college. 20s fulfilled American Dream Nothing more American, than the American dream of working hard. But prejudice and discrimination, inequality of wealth-Great depression delt a blow to that idea. People who did everything right shook by something they could not control. Could the nation survive? Black Tuesday chaos in stock market led to economic depression. Bull Market of 1920s fueled by inadequate regulation. Everyone was borrowing and investing in the stock money. Short selling—buy on credit, and pay by selling bc it would be higher. So ordinary people took out mortgages, and then went to bankruptcy. People who didn’t even own stocks suffered as well, bc businesses were affected. Almost 25% employment-no work, no money to buy.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Depression - DEPRESSION AMERICA: THE SHOCK OF POVERTY Stock...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online