9.2: The Great Depression

Huge economic downturn that left 25% of the population unemployed

beginning of the Great Depression in Oct. 1929; also known as "Black Tuesday," stock prices began to fall rapidly due to everyone wanting to sell their stocks; $40 bil were lost

Overproduction, Underconsumption, Stock Market Speculation

one of the causes of the Great Depression; more goods were being produced than could be consumed

one of the causes of the Great Depression; the development of the national consumer market and the creation of consumer credit encouraged people to spend money they didn't have

one of the causes of the Great Depression; everyone stopped buying goods, which led to companies laying off workers, which led to even less consumption

one of the causes of the Great Depression; people tried to buy goods and investments with money they did not have

one of the causes of the Great Depression; people got loans to buy stocks; if the price of the stock rose, then they made money and could pay the loan back; if the price of the stock dropped, then they lost money and couldn't pay the loan back

one of the causes of the Great Depression; the wealth continued to get wealthy, but the poor stayed poor

one of the causes of the Great Depression; people tried to withdraw their savings, but banks did not have enough money so they closed; people lost their life savings

work relief programs like the Boulder Dam and the Golden Gate Bridge, loans to businesses; most people felt that it was too little, too late

men abandoned families, teenagers left home to support themselves, rising crime rates, falling birth rates, fewer new marriages, higher suicide rates, increases of alcoholism, creation of Hoovervilles, increase in soup kitchens/bread lines

in the election of 1932, Hoover did not win re-election since the public blamed him for the Great Depression; instead Franklin Roosevelt (Democrat) won

Slums built during the Great Depression; the name was meant to cast criticism on President Hoover and his handling of the economic crisis

Severe dust storms that originated in the Great Plains