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Lecture 22 - Lecture 22 The Crash and Causes of the Great...

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Lecture 22: The Crash and Causes of the Great Depression Recap 1) Material prosperity 2) The great Gatsby and the first modern decade 3) Disillusionment and reaction 4) Slogans of the 1920s I. The Crash a. Stock market begins to fall b. Black Thursday c. They keep drop the price of stocks cause no one will buy it d. Big businesses step in…house of Morgan e. Buying in margin e.i. When it works you an have huge rewards on little payments e.ii. Have to pay back the bank for the extra money that they supplied f. The crash began the depression but did not cause it itself II. The Prosperity of the 20s a. Everything is growing…people bought b. People were getting light, indoor plumbing III. The causes of the Depression a. International roots a.i. German reparations and loans a.ii. Everyone is borrowing money and people are paying back with the German money but they run out of money b. Loose banking and stock market practices b.i. If people do not have the money then they are letting out loans for the stocks c.
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