The Great Depression |
2008 Recession |
|---|---|
| Unemployment Rate 25% | Unemployment Rate 10% 20% of people are underemployed |
| Governmental monetary stimulus took 19 months to reflect in the stock market | Governmental monetary stimulus took 10 months to reflect in stock market |
| People waited in bread lines; depended on government to survive day-to-day | One in six people ended up on governmental assistance |
| Banks collapsed, losing $140 billion in depositors’ money; over 9,000 banks failed | Between GDP loss and loss of household wealth, estimates are around $12.8 trillion dollars lost; 57 banks failed |
Right in the middle of the Great Depression came one of the worst droughts America had ever seen. For several years (from about 1934-1940), 150,000 square miles of America’s heartland were ravaged by high winds, dry conditions, and poor cultivation practices that led to loose topsoil in which nothing could survive the harsh weather.
While reading The Grapes of Wrath, have students compare and contrast the Joads’ story with that of the immigration crisis out of Syria into Europe.
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