הירשם כמורה
The Great Depression
טקסט Storyboard
- שקופית: 1
- This girl represents the rich!
- The total is one hundred.
- Business is slow..
- I have reached the limit on my credit card and im gonna sell off my stocks.
- By the fall of 1929, spending had slowed and the sale of products suffered badly. At the end of October, investors started to sell their stocks and a huge sell off began. The worst day was October 29th and was named Black Tuesday and one day 16 million shares were sold and without people buying the stocks, prices collapsed.
- The richest 1% of the population earned 19% of the nations income and was not disturbed evenly. Credit cards were easily available where you would borrow money from banks or other lenders and would pay back overtime.
- שקופית: 2
- What do I do?
- Investors who had borrowed money are unable to pay back their loans. Banks that lent money to investors were in deep financial trouble so America's industry suffered because now people don't have any money to buy things.
- שקופית: 3
- This is President Herbert Hoover.
- One cause of the Depression was a slowdown of industryAs industry slowed, workers lost their jobs, by 1933 one out of every four workers were unemployed Joblessless and poverty reduced the ability to buy goods and good,which hurt industry even further. As investors failed to pay their loans, the banks suffered, at this time, people who had savings in banks, could lose their money because of banks closing, forcing people to withdraw savings and banks to close. Us President Herbert Hoover, elected in 1928, President 1929-1933, believed that the Federal government should have a limited role in business affairsHe favored a minimal response to the crisisSome of his advisors thought that the Great Depression was a normal and healthy adjustment to the economyMany Americans believe that Herbert Hoover did not do enough to help out with the Depression.
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