The bank will let us borrow money, we can just pay it back later!
We can buy anything using credit!
We can't pay off our debts now!
In this storyboard, I will be explaining one cause and one effect of the Great Depression.
We have nowhere to live, so we have to find somwhere else to go!
One cause of the Great Depression was people borrowing too much money. Banks told people to start using credit, and they did, borrowing more money than they could pay back. Many people used the "buy now, pay later" approach, thinking they would have enough by the time they needed to pay it back.
We had to build our own house in this town, and so did everyone else.
After the economy went bad, people were left in terrible debts, and weren't able to pay the money back. Families were left poor and homeless, with only entertainment devices instead of things they really needed.
One effect of the Great Depression were shantytowns, which are towns made up of small, simple houses, called Hoovervilles. Named after President Herbert Hoover, whom everyone blamed for the Great Depression, these towns had many hand-made houses, built by the people instead of bought.
People could not afford pre-built houses, so they built their own, since it cost no money. Almost everyone had to do this, due to the drop in the economy, and the lack of money circulating around the country.
Here, I've showed and explained one cause and one effect of the Great Depression. The cause was people borrowing too much money using credit, and the effect was small shantytowns called Hoovervilles.