social studies
Storyboard Text
- Stock Market Crash
- The prices are so high, I am unable to afford this.
- Bank Runs
- So many people...
- Hey you!!
- Farmers Struggled
- Nothing seems to be growing...
- The Stock Market Crash of 1929 is considered the start of the Great Depression. This happened to over speculation meaning stock became worth more than the company value. The crash had such an impact the economy began to slow and stocks started to fall.
- Easy Credit
- So, buy now! You won't regret it!
- When people heard of the stock market crash, they quickly went to banks to withdraw money in cash. This lead to bank runs meaning many anxious people would withdraw their deposits but it also many times lead to bank failure. Banks began to fail meaning many people lost their life savings.
- Over Production
- I can't believe they let us go!
- Farmers were having a difficult time, crops were being grown at a rapid pace but this was done with machinery but prices dropped so low that farmers were unable to make a profit. When the Great Depression hit things got worse for farmers, along with that but a drought began turnings soil to dust and killing all crops and livestock.
- World Debt and Trade
- We will give to our allies!
- During the roaring twenties, advertisement for new products hit and people began to purchase many new products. Advertisement gave people the idea that if they could borrow money they would be able to purchase these items, well when the economy began to crumble people were unable to pay their money back or sometimes even receive their money leaving them in debt.
- While the economy was raging in the 1920's company's built new factories and hired new workers, but soon enough companies were making more products than they can sell forcing them to lay off workers and discontinue production due to the Great Depression.
- During the Great Depression the whole would was having economy issues so the United States loaned billions to its allies, although the struggling Allie were unable to repay their debt. Then, a new law was placed making taxes on imports making the struggling economy worsen.
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