Unknown Story
Updated: 12/10/2019
Unknown Story
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Storyboard Text

  • STOCK MARKET CRASH
  • STOCK MARKET
  • GOLD STANDARDS
  • We use this now. If you don't want to, too bad >=)
  • Such high standards!!!!
  • INTEREST RAISE
  • Bruh ya good?
  • Bruh! We should raise interest rates! It'll TOTALLY help!!
  • Hundreds of millions of shares were being carried on margin. Once prices began their decline, millions of overextended shareholders fell into a panic and rushed to liquidate their holdings, making the decline worst and causing further panic. Between September and November, stock prices fell 33 percent.
  • DUST BOWL
  • As the United States experienced declining output and deflation, it tended to run a trade surplus with other countries because Americans were buying fewer imported goods, while American exports were relatively cheap. Such imbalances gave rise to significant foreign gold outflows to the United States, which in turn threatened to devalue the currencies of the countries whose gold reserves had been depleted.
  • BANK LOANS
  • I want to buy an automobile but I don't have enough money!!
  • Here. Take as much as you want. No consequences >=)
  • The Fed raised interest rates again to preserve the dollar's value. That further restricted the availability of money for businesses. More bankruptcies followed.
  • WORLD DEBT AND TRADE
  • BRO You still owe me millions!
  • Oh my bad. I'll hit you back tomorrow
  • A number of factors contributed to the Dust Bowl. The first was a terrible drought (lack of rain) that lasted for many years. With so little rain the soil dried out. Also, much of the region had been plowed up by farmers to grow wheat or to graze cattle. The wheat did not anchor the soil or help hold moisture. After years of abuse, the topsoil was destroyed and turned into dust.
  • My crops are dead T-T
  • In the 1920s, there were lots of new products available like automobiles, washing machines, and radios. Advertising convinced people that everyone could afford these items by borrowing money. As a result, many people went into debt buying products they couldn't afford. When the economy went bad, many families couldn't make their payments.
  • The U.S. had loaned billions of dollars to its allies recovering from World War I. As these countries struggled, they could not pay back the U.S. A new law called the Smoot-Hawley Tariff Act was passed in 1930. It placed high tariffs (taxes) on imports. This hampered trade with other countries and helped to slow down the economy.
  • You've been saying that for the last 30 "tomorrows!!"
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